Kansas § 58-9a-413 Marital deduction property not productive of income

Kansas Statutes

§ 58-9a-413 — Marital deduction property not productive of income

Kansas·Ch. 58 PERSONAL AND REAL PROPERTY·Art. 9a UNIFORM FIDUCIARY INCOME AND PRINCIPAL ACT

(a)If a trust received property for which a gift or estate tax marital deduction was allowed and the settlor's spouse holds a mandatory income interest in the trust, the spouse may require the trustee, to the extent the trust assets otherwise do not provide the spouse with sufficient income from or use of the trust assets to qualify for the deduction, to:

(1)Make property productive of income;

(2)convert property to property productive of income within a reasonable time; or

(3)exercise the power to adjust under K.S.A. 2024 Supp. 58-9a-203, and amendments thereto.

(b)The trustee may decide which action or combination of actions in subsection (a) to take.

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(a) If a trust received property for which a gift or estate tax marital deduction was allowed and the settlor's spouse holds a mandatory income interest in the trust, the spouse may require the trustee, to the extent the trust assets otherwise do not provide the spouse with sufficient income from or use of the trust assets to qualify for the deduction, to:
(1) Make property productive of income;
(2) convert property to property productive of income within a reasonable time; or
(3) exercise the power to adjust under K.S.A. 2024 Supp. 58-9a-203, and amendments thereto.
(b) The trustee may decide which action or combination of actions in subsection (a) to take.

Kansas § 58-9a-413 (Marital deduction property not productive of income) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.