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Maryland Code, Estates and Trusts 15-509

Maryland Code > Estates and Trusts > § 15-509

^{Current as of: 2010}

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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 of principal from such a trust or estate. If a trustee purchases an interest in a trust that is an investment entity, or a decedent or donor transfers an interest in such a trust to a trustee, § 15-508 or § 15-522 of this subtitle applies to a receipt from the trust.

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Questions & Answers: Wills and Estates

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