# RCW 11.104B.050: RCW 11.104B.050: Fiduciary duties—General principles > Washington · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S050 ## Section - **Citation:** RCW 11.104B.050 - **Heading:** RCW 11.104B.050: Fiduciary duties—General principles - **Jurisdiction:** Washington - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Washington Code / Title 11 / Chapter 104B / Section 050 ## Text (1) In making an allocation or determination or exercising discretion under this chapter, a fiduciary shall: (a) Act in good faith, based on what is fair and reasonable to all beneficiaries; (b) Administer a trust or estate impartially, except to the extent the terms of the trust manifest an intent that the fiduciary shall or may favor one or more beneficiaries; (c) Administer the trust or estate in accordance with the terms of the trust, even if there is a different provision in this chapter; and (d) Administer the trust or estate in accordance with this chapter, except to the extent the terms of the trust provide otherwise or authorize the fiduciary to determine otherwise. (2) A fiduciary's allocation, determination, or exercise of discretion under this chapter is presumed to be fair and reasonable to all beneficiaries. A fiduciary may exercise a discretionary power of administration given to the fiduciary by the terms of the trust, and an exercise of the power which produces a result different from a result required or permitted by this chapter does not create an inference that the fiduciary abused the fiduciary's discretion. (3) A fiduciary shall: (a) Add a receipt to principal, to the extent neither the terms of the trust nor this chapter allocates the receipt between income and principal; and (b) Charge a disbursement to principal, to the extent neither the terms of the trust nor this chapter allocates the disbursement between income and principal. (4) A fiduciary may exercise the power to adjust under RCW 11.104B.070 , convert an income trust to a unitrust under RCW 11.104B.120 (1)(a), change the percentage or method used to calculate a unitrust amount under RCW 11.104B.120 (1)(b), or convert a unitrust to an income trust under RCW 11.104B.120 (1)(c), if the fiduciary determines the exercise of the power is necessary to administer the trust or estate in accordance with the requirements of subsection (1) of this section. (5) Factors the fiduciary must consider in making the determination under subsection (4) of this section include: (a) The terms of the trust; (b) The nature, distribution standards, and expected duration of the trust; (c) The effect of the allocation rules, including specific adjustments between income and principal, under Articles 4 through 7 of this chapter; (d) The desirability of liquidity and regularity of income; (e) The desirability of the preservation and appreciation of principal; (f) The extent to which an asset is used or may be used by a beneficiary; (g) The increase or decrease in the value of principal assets, reasonably determined by the fiduciary; (h) Whether and to what extent the terms of the trust give the fiduciary power to accumulate income or invade principal or prohibit the fiduciary from accumulating income or invading principal; (i) The extent to which the fiduciary has accumulated income or invaded principal in preceding accounting periods; (j) The effect of current and reasonably expected economic conditions; and (k) The reasonably expected tax consequences of the exercise of the power. ## Nearby sections - [RCW 11.104B.001 RCW 11.104B.001: Short title.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S001.md) - [RCW 11.104B.005 RCW 11.104B.005: Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S005.md) - [RCW 11.104B.010 RCW 11.104B.010: Scope.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S010.md) - [RCW 11.104B.020 RCW 11.104B.020: Governing law.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S020.md) - [RCW 11.104B.050 RCW 11.104B.050: Fiduciary duties—General principles.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S050.md) - [RCW 11.104B.060 RCW 11.104B.060: Fiduciary duties—Judicial review of exercise of discretionary power—Request for instruction.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S060.md) - [RCW 11.104B.070 RCW 11.104B.070: Fiduciary duties—Power to adjust.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S070.md) - [RCW 11.104B.100 RCW 11.104B.100: Unitrusts—Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S100.md) - [RCW 11.104B.110 RCW 11.104B.110: Unitrusts—Application—Duties and remedies.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S110.md) - [RCW 11.104B.120 RCW 11.104B.120: Unitrusts—Authority of fiduciary.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S120.md) - [RCW 11.104B.130 RCW 11.104B.130: Unitrusts—Notice.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S130.md) - [RCW 11.104B.140 RCW 11.104B.140: Unitrusts—Unitrust policies.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S140.md) - [RCW 11.104B.150 RCW 11.104B.150: Unitrusts—Unitrust rates.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S150.md) - [RCW 11.104B.160 RCW 11.104B.160: Unitrusts—Applicable value.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S160.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_WA_T11_C104B_S050. 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