Among a trustee’s duties, properly allocating receipts between principal and income ranks near the top. Payment from an individual retirement account to a trust illustrates this point. The allocation impacts the amount of the IRA’s income the trustee must count as income of the trust and, per its terms, distribute to a current income beneficiary. Will all, a portion or none of the income earned inside the IRA become income of the trust and then pass down to this beneficiary?
ARTICLE ACCESS REQUIRED
Please Log in if you are currently a Trust&Estates subscriber, or select DAYPASS for our new 24 hour access (nominal fee required).
If you are interested in unlimited article access for one year, please select Annual Subscription below.
0 comments
Hide comments