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 As used in this section, the following terms mean: (1) “Payment”, an amount that is: (a) Received or withdrawn from a plan; […]
Section 469.439 – Ten percent of receipts from liquidating asset allocated to income, remainder to principal.
Effective – 28 Aug 2001 469.439. Ten percent of receipts from liquidating asset allocated to income, remainder to principal. — 1. As used in this section, the phrase “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 phrase […]
Section 469.441 – Allocation of interest in minerals or other natural resources — interest in water, allocation of.
Effective – 28 Aug 2001 469.441. Allocation of interest in minerals or other natural resources — interest in water, allocation of. — 1. 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 […]
Section 469.425 – Allocations to income or principal.
Effective – 28 Aug 2001 469.425. Allocations to income or principal. — A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest, and shall allocate to principal an amount received as a distribution […]
Section 469.427 – Separate accounting records maintained, when, procedure.
Effective – 28 Aug 2001 469.427. Separate accounting records maintained, when, procedure. — 1. If a trustee who conducts a business or other activity determines that it is in the best interest of all the beneficiaries to account separately for the business or activity instead of accounting for it as part of the trust’s general […]
Section 469.429 – Allocations to principal.
Effective – 28 Aug 2001 469.429. Allocations to principal. — A trustee shall allocate to principal: (1) To the extent not allocated to income pursuant to sections 469.401 to 469.467, assets received from a transferor during the transferor’s lifetime, a decedent’s estate, a trust with a terminating income interest, or a payer under a contract […]
Section 469.431 – Rental property, allocation to income.
Effective – 28 Aug 2001 469.431. Rental property, allocation to income. — To the extent that a trustee accounts for receipts from rental property pursuant to this section, the trustee shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. […]
Section 469.403 – Disbursements to or between principal and income, fiduciary’s responsibilities.
Effective – 28 Aug 2001 469.403. Disbursements to or between principal and income, fiduciary’s responsibilities. — 1. In allocating receipts and disbursements to or between principal and income, and with respect to any matter within the scope of sections 469.413 to 469.421, a fiduciary: (1) Shall administer a trust or estate under the terms of […]
Section 469.405 – Adjustments between principal and income permitted by trustee, factors to be considered — no adjustment permitted, when.
Effective – 28 Aug 2001 469.405. Adjustments between principal and income permitted by trustee, factors to be considered — no adjustment permitted, when. — 1. A trustee may adjust between principal and income to the extent the trustee considers necessary if the trustee invests and manages trust assets as a prudent investor, the terms of […]