Section 469.433 – Life insurance proceeds allocated to principal — dividends allocated to income.
Effective – 28 Aug 2001 469.433. Life insurance proceeds allocated to principal — dividends allocated to income. — 1. Except as otherwise provided in subsection 2 of this section, a trustee shall allocate to principal the proceeds of a life insurance policy or other contract in which the trust or its trustee is named as […]
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 As used in this section, the following terms mean: (1) “Payment”, an amount that is: (a) Received or withdrawn from a plan; […]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 469.409 – Bar on claim of breach of fiduciary duty, when — applicable rules.
Effective – 28 Aug 2004 469.409. Bar on claim of breach of fiduciary duty, when — applicable rules. — 1. Any claim for breach of a trustee’s duty to impartially administer a trust related, directly or indirectly, to an adjustment made by a fiduciary to the allocation between principal and income pursuant to subsection 1 […]
Section 469.411 – Determination of unitrust amount — definitions — exclusions to average net fair market value of assets — applicability of section to certain trusts — net income of trust to be unitrust amount, when.
Effective – 28 Aug 2011, 2 histories 469.411. Determination of unitrust amount — definitions — exclusions to average net fair market value of assets — applicability of section to certain trusts — net income of trust to be unitrust amount, when. — 1. (1) If the provisions of this section apply to a trust, the […]
Section 469.413 – Death of decedent or end of income interest, applicable rules.
Effective – 28 Aug 2001 469.413. Death of decedent or end of income interest, applicable rules. — After a decedent dies, in the case of an estate, or after an income interest in a trust ends, the following rules apply: (1) A fiduciary of an estate or of a terminating income interest shall determine the […]
Section 469.415 – Rights of beneficiaries to net income.
Effective – 28 Aug 2001 469.415. Rights of beneficiaries to net income. — 1. Each beneficiary described in subdivision (4) of section 469.413 is entitled to receive a portion of the net income equal to the beneficiary’s fractional interest in undistributed principal assets, using values as of the distribution date. If a fiduciary makes more […]
Section 469.417 – Beneficiary entitled to net income, when — asset subject to trust, when — income interest.
Effective – 28 Aug 2001 469.417. Beneficiary entitled to net income, when — asset subject to trust, when — income interest. — 1. An income beneficiary is entitled to net income from the date on which the income interest begins. An income interest begins on the date specified in the terms of the trust or, […]
Section 469.419 – Trustee to allocate income receipt or disbursement, when.
Effective – 28 Aug 2004 469.419. Trustee to allocate income receipt or disbursement, when. — 1. A trustee shall allocate an income receipt or disbursement other than one to which subdivision* (1) of section 469.413 applies to principal if its due date occurs before a decedent dies in the case of an estate or before […]
Section 469.421 – Mandatory income interest, undistributed income, paid when.
Effective – 28 Aug 2001 469.421. Mandatory income interest, undistributed income, paid when. — 1. For purposes of this section, the phrase “undistributed income” means net income received before the date on which an income interest ends. The phrase does not include an item of income or expense that is due or accrued, or net […]