Section 469.447 – Transactions in derivatives allocated to principal — options to sell or buy property allocated to principal.
Effective – 28 Aug 2001 469.447. Transactions in derivatives allocated to principal — options to sell or buy property allocated to principal. — 1. As used in this section, the term “derivative” means a contract or financial instrument or a combination of contracts and financial instruments which gives a trust the right or obligation to […]
Section 469.449 – Allocation of collateral financial assets and asset-backed securities.
Effective – 28 Aug 2004 469.449. Allocation of collateral financial assets and asset-backed securities. — 1. As used in this section, the phrase “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 […]
Section 469.451 – Required disbursements from income.
Effective – 28 Aug 2001 469.451. Required disbursements from income. — A trustee shall make the following disbursements from income to the extent that they are not disbursements to which paragraph (b) or (c) of subdivision (2) of section 469.413 applies: (1) One-half of the regular compensation of the trustee and of any person providing […]
Section 469.453 – Required disbursements from principal.
Effective – 28 Aug 2004 469.453. Required disbursements from principal. — 1. A trustee shall make the following disbursements from principal: (1) The remaining one-half of the disbursements described in subdivisions (1) and (2) of section 469.451; (2) All of the trustee’s compensation calculated on principal as a fee for acceptance, distribution or termination, and […]
Section 469.455 – Depreciation not to be transferred.
Effective – 28 Aug 2001 469.455. Depreciation not to be transferred. — 1. As used in this section, the term “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. 2. A trustee may transfer to principal […]
Section 469.457 – Principal disbursement, permitted transfers.
Effective – 28 Aug 2001 469.457. Principal disbursement, permitted transfers. — 1. If a trustee makes or expects to make a principal disbursement described in this section, the trustee may transfer an appropriate amount from income to principal in one or more accounting periods to reimburse principal or to provide a reserve for future principal […]
Section 469.459 – Taxes to be paid from income or principal, when.
Effective – 28 Aug 2011 469.459. Taxes to be paid from income or principal, when. — 1. A tax required to be paid by a trustee based on receipts allocated to income shall be paid from income. 2. A tax required to be paid by a trustee based on receipts allocated to principal shall be […]
Section 469.461 – Adjustments between principal and income, when — estate tax marital deduction or charitable contributions, how handled.
Effective – 28 Aug 2001 469.461. Adjustments between principal and income, when — estate tax marital deduction or charitable contributions, how handled. — 1. A fiduciary may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from: (1) Elections and […]
Section 469.435 – Insubstantial amounts may be allocated to principal, exceptions — presumption of insubstantial amount, when.
Effective – 28 Aug 2004 469.435. Insubstantial amounts may be allocated to principal, exceptions — presumption of insubstantial amount, when. — If a trustee determines that an allocation between principal and income required by section 469.437, 469.439, 469.441, 469.443 or 469.449 is insubstantial, the trustee may allocate the entire amount to principal unless one of […]
Section 469.437 – Distributions allocated as income, when — definitions — balance allocated to principal, when — effect of separate accounts or funds — marital deduction, effect of.
Effective – 28 Aug 2011 469.437. Distributions allocated as income, when — definitions — balance allocated to principal, when — effect of separate accounts or funds — marital deduction, effect of. — 1. As used in this section, the following terms mean: (1) “Payment”, an amount that is: (a) Received or withdrawn from a plan; […]