Section 4.14 Receipts From Insurance Contracts
| Library | Trusts and Powers 2013 Supp |
F. (§4.14) Receipts From Insurance Contracts
Generally, a trustee is to allocate proceeds from insurance policies to principal. This general rule applies to “proceeds of a life insurance policy or other contract in which the trust or its trustee is named as beneficiary.” Section 469.433.1, RSMo Supp. 2005. This general rule also applies to “contract[s] that insure the trust or its trustee against loss for damages to, destruction of, or loss of title to a trust asset.” Id. Dividends on insurance policies...
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