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Alaska Statutes.

Title 13. Estates, Guardianships, Transfers, Trusts.

Chapter 38. Principal and Income of Trusts

Section 680. Insubstantial Allocations Not Required.

AS 13.38.680. Insubstantial Allocations Not Required.

If a trustee determines that an allocation between principal and income required by AS 13.38.690 , 13.38.700, 13.38.710, 13.38.720, or 13.38.750 is insubstantial, the trustee may allocate the entire amount to principal unless one of the circumstances described in AS 13.38.210 (c) applies to the allocation. This power may be exercised by a co-trustee in the circumstances described in AS 13.38.210 (d) and may be released for the reasons and in the manner described in AS 13.38.210 (e). An allocation is presumed to be insubstantial if

(1) the amount of the allocation would increase or decrease net income in an accounting period, as determined before the allocation, by less than five percent; or

(2) the value of the asset producing the receipt for which the allocation would be made is less than five percent of the total value of the trust's assets at the beginning of the accounting period.

Note to HTML Version:

This version of the Alaska Statutes is current through December, 2004. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful.

Last modified 9/3/2005