Indiana § 30-2-14-24 Distributions of principal and income from trust or estate

Indiana Statutes

§ 30-2-14-24 — Distributions of principal and income from trust or estate

Indiana § 30-2-14-24

Art. 2GENERAL PROVISIONS

Ch. 14Uniform Principal and Income Act

This text of Indiana § 30-2-14-24 (Distributions of principal and income from trust or estate) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 30-2-14-24 (2026).

Text

A trustee shall allocate to:

(1)income an amount received as a distribution of income; and

(2)principal an amount received as a distribution of principal; from a trust or an estate in which the trust has an interest other than a purchased interest. If a trustee purchases an interest in a trust that is an investment entity, or a decedent or donor transfers an interest in such a trust to a trustee, section 23 or 37 of this chapter applies to a receipt from the trust.

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A trustee shall allocate to:
(1) income an amount received as a distribution of income; and
(2) principal an amount received as a distribution of principal;
from a trust or an estate in which the trust has an interest other than a
purchased interest. If a trustee purchases an interest in a trust that is an
investment entity, or a decedent or donor transfers an interest in such
a trust to a trustee, section 23 or 37 of this chapter applies to a receipt
from the trust.