{"data":{"id":"us-nh/rsa-564-c-5-503","jurisdiction":"us-nh","citation":"RSA 564-C:5-503","heading":"Transfers from Income to Principal for Depreciation.","body":"(a) In this section, \"depreciation\" means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a fixed asset having a useful life of more than one year.\n(b) A trustee may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation, but may not transfer any amount for depreciation:\n(1) of that portion of real property used or available for use by a beneficiary as a residence or of tangible personal property held or made available for the personal use or enjoyment of a beneficiary;\n(2) during the administration of a decedent's estate; or\n(3) under this section if the trustee is accounting under RSA 564-C:4-403 for the business or activity in which the asset is used.\n(c) An amount transferred to principal need not be held as a separate fund.","path":["Title LVI: PROBATE COURTS AND DECEDENTS' ESTATES","Chapter ARTICLE 5: ALLOCATION OF DISBURSEMENTS DURING ADMINISTRATION OF TRUST"],"source_url":"https://gc.nh.gov/rsa/html/LVI/564-C/564-C-5-503.htm","current_through":"2025 regular legislative session, or December 2025","vintage":"","retrieved_at":"2026-09-05T17:07:46Z","sha256":"8092a4492d6a2835710b0ece5d06d85d954bda1b465bb89459acc4b7163b7808","source_id":"us-nh","stale":false,"prev":"us-nh/rsa-564-c-5-502","next":"us-nh/rsa-564-c-5-504"},"notice":"GroundRules: Original legal text. Not legal advice."}