Section 4.5 Apportionment of Receipts and Disbursements When an Income Interest Begins (or a Decedent Dies)

• Library: Trusts and Powers 2013 Supp

B. (§4.5) Apportionment of Receipts and Disbursements When an Income Interest Begins (or a Decedent Dies)

The apportionment of income receipts and disbursements at the beginning of an income interest depends on when the receipt or disbursement is received. There are three general rules:

1. A trustee is to allocate an income receipt or disbursement to principal if its due date occurs before an income interest or a successive income interest begins or, with respect to estates, if the due date occurs before...