Missouri Laws 469.425 – Allocations to income or principal
Current as of: 2023 | Check for updates
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Terms Used In Missouri Laws 469.425
- Decedent: A deceased person.
- Donor: The person who makes a gift.
- Trustee: A person or institution holding and administering property in trust.
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, section 469.423 or 469.449 shall apply to a receipt from the trust.