Section 68-10-409 – DEFERRED COMPENSATION, ANNUITIES, AND SIMILAR PAYMENTS.
68-10-409. DEFERRED COMPENSATION, ANNUITIES, AND SIMILAR PAYMENTS. (a) In this section: (1) "Payment" means a payment that a trustee may receive over a fixed number of years or during the life of one (1) or more individuals because of services rendered or property transferred to the payer in exchange for future payments. The term includes […]
Section 68-10-410 – LIQUIDATING ASSET.
68-10-410. LIQUIDATING ASSET. (a) In this section, "liquidating asset" means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period of limited duration. The term includes a leasehold, patent, copyright, royalty right and right to receive payments during a period of more than one (1) year […]
Section 68-10-411 – MINERALS, WATER AND OTHER NATURAL RESOURCES.
68-10-411. MINERALS, WATER AND OTHER NATURAL RESOURCES. (a) To the extent that a trustee accounts for receipts from an interest in minerals or other natural resources pursuant to this section, the trustee shall allocate them as follows: (1) If received as nominal delay rental or nominal annual rent on a lease, a receipt must be […]
Section 68-10-412 – TIMBER.
68-10-412. TIMBER. (a) To the extent that a trustee accounts for receipts from the sale of timber and related products pursuant to this section, the trustee shall allocate the net receipts: (1) To income to the extent that the amount of timber removed from the land does not exceed the rate of growth of the […]
Section 68-10-413 – PROPERTY NOT PRODUCTIVE OF INCOME.
68-10-413. PROPERTY NOT PRODUCTIVE OF INCOME. (a) If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse with sufficient income from or use of the trust assets, and if the amounts that the trustee transfers from principal to income under […]
Section 68-10-414 – DERIVATIVES AND OPTIONS.
68-10-414. DERIVATIVES AND OPTIONS. (a) In this section, "derivative" means a contract or financial instrument or a combination of contracts and financial instruments which give a trust the right or obligation to participate in some or all changes in the price of a tangible or intangible asset or group of assets, or changes in a […]
Section 68-10-415 – ASSET-BACKED SECURITIES.
68-10-415. ASSET-BACKED SECURITIES. (a) In this section, "asset-backed security" means an asset whose value is based upon the right it gives the owner to receive distributions from the proceeds of financial assets that provide collateral for the security. The term includes an asset that gives the owner the right to receive from the collateral financial […]
Section 68-10-501 – DISBURSEMENTS FROM INCOME.
68-10-501. DISBURSEMENTS FROM INCOME. A trustee shall make the following disbursements from income to the extent that they are not disbursements to which section 68-10-201(2)(B) or (2)(C), Idaho Code, applies: (1) One-half (1/2) of the regular compensation of the trustee and of any person providing investment advisory or custodial services to the trustee; (2) One-half […]
Section 68-10-502 – DISBURSEMENTS FROM PRINCIPAL.
68-10-502. DISBURSEMENTS FROM PRINCIPAL. (a) A trustee shall make the following disbursements from principal: (1) The remaining one-half (1/2) of the disbursements described in section 68-10-501(1) and (2), Idaho Code; (2) All of the trustee’s compensation calculated on principal as a fee for acceptance, distribution or termination, and disbursements made to prepare property for sale; […]
Section 68-10-503 – TRANSFERS FROM INCOME TO PRINCIPAL FOR DEPRECIATION.
68-10-503. TRANSFERS FROM INCOME TO PRINCIPAL FOR DEPRECIATION. (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 (1) year. (b) A trustee may transfer to principal a reasonable amount of the net cash […]