§7-431. When right to income begins and ends 1. Beginning of income interest. 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, if no date is specified, on the date an asset […]
§7-432. Apportionment of receipts and disbursements when decedent dies or income interest begins 1. Application to principal. A trustee shall allocate an income receipt or disbursement other than one to which section 7‑421, subsection 1 applies to principal if its due date occurs before a decedent dies in the case of an estate or before […]
§7-433. Apportionment when income interest ends 1. Undistributed income. As used in this section, “undistributed income” means net income received before the date on which an income interest ends. “Undistributed income” does not include an item of income or expense that is due or accrued or net income that has been added or is required […]
