Section 469.463 – Uniformity considered in application and construction.
Effective – 28 Aug 2001 469.463. Uniformity considered in application and construction. — In applying and construing sections 469.401 to 469.467, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. ——– (L. 2001 H.B. 241)
Section 469.465 – Severability clause.
Effective – 28 Aug 2001 469.465. Severability clause. — If any provision of sections 469.401 to 469.467 or the application of these sections to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of sections 469.401 to 469.467 which can be given effect without the invalid provision or […]
Section 469.467 – Applicability of sections.
Effective – 28 Aug 2016, 2 histories 469.467. Applicability of sections. — Sections 469.401 to 469.467 apply to every trust or decedent’s estate existing on or after August 28, 2001, except as otherwise expressly provided in the will or terms of the trust or in sections 469.401 to 469.467. ——– (L. 2001 H.B. 241, A.L. […]
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 469.443 – Sale of timber and related products, allocation of net receipts.
Effective – 28 Aug 2001 469.443. Sale of timber and related products, allocation of net receipts. — 1. 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 […]
Section 469.445 – Marital deduction, insufficient income, allowable actions.
Effective – 28 Aug 2001 469.445. Marital deduction, insufficient income, allowable actions. — 1. 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 […]
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 […]