Understanding the Massachusetts Principal and Income Act

Click here to order course materials from this program

Tuesday | December 6, 2005 | State House

Sponsored by: Trusts & Estates Section

The Massachusetts Principal and Income Act will take effect on January 2, 2006, providing Trusts & Estates attorneys with comprehensive legislation governing principal and income allocations. It accomplishes two key objectives:

• a unified statutory scheme as to what constitutes income and what constitutes principal; and,
• giving power to trustees to adjust between principal and income in making distributions to beneficiaries.

The expert panel, instrumental in the development and drafting of the Act, will ensure that attendees gain a thorough understanding of the new legislation, as well as examining how its enactment will affect Trusts & Estates practice in Massachusetts .

Specific topics will include:

• Overview of the history leading up to the Act’s passage;
• Overview of the Act;
• The power to adjust under the Act and the interaction of Code section 643; and,
• How the Act will affect the trusts and estate practice.

The seminar will be followed by a questions and answers session.

Panelists:

Arnold W. Hunnewell, Esq.
Of Counsel
Dane & Howe LLP

Eric P. Hayes, Esq.
Senior Counsel
U.S. Trust Company

George P. Cushing, Esq.
Partner
Kirkpatrick & Lockhart Nicholson Graham

© 1995 - 2008 All Rights Reserved
Boston Bar Association, 16 Beacon Street, Boston, MA 02108
Ph: 617.742.0615 | Fax: 617.523.0127
Terms of Use | Privacy Policy
Questions, comments? contact membership@bostonbar.org