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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 38. Principal and Income of Trusts
- Section 570. Apportionment When Income Interest Ends.
previous: Section 560
. Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins.
next: Section 600
. Character of Receipts.
AS 13.38.570. Apportionment When Income Interest Ends.
- (a) When a mandatory income interest ends, the trustee shall pay to a mandatory income beneficiary who survives that date,
or the estate of a deceased mandatory income beneficiary whose death causes the interest to end, the beneficiary's
share of the undistributed income that is not disposed of under the governing instrument unless the beneficiary has an
unqualified power to revoke more than five percent of the trust immediately before the income interest ends. In the
case of the beneficiary who has an unqualified power to revoke more than five percent of the trust immediately before
the income interest ends, the undistributed income from the portion of the trust that may be revoked shall be added to
- (b) When a trustee's obligation to pay a fixed annuity or a fixed fraction of the value of the trust's assets ends, the
trustee shall prorate the final payment if and to the extent required by applicable law to accomplish a purpose of the
trust or its settlor or testator relating to income, gift, estate, or other tax requirements.
- (c) In this section, "undistributed income" means net income received before the date on which an income interest ends,
but does not include an item of income or expense that is due or accrued or net income that has been added or is
required to be added to principal under the governing instrument.
Article 06. ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST
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