Trusts; amend Alabama Principal and Income Act, permit trustee to adjust between principal and income

HB 206 allows Alabama trustees to adjust trust income and principal (e.g., moving expenses between these categories) without needing explicit permission in the trust document. This change aligns Alabama law with the Uniform Principal and Income Act, simplifying trust management for trustees. The bill maintains existing restrictions, such as prohibiting adjustments that harm tax benefits for beneficiaries or alter fixed payments. It directly affects trustees and beneficiaries of trusts in Alabama by providing greater flexibility in handling trust assets.