Montana § 72-34-432 Undistributed Income -- Definition -- Payment To Beneficiary

Montana Statutes

§ 72-34-432 — Undistributed Income -- Definition -- Payment To Beneficiary

Montana § 72-34-432

Title 72ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS

Ch. 34PRINCIPAL AND INCOME

Part 4Montana Uniform Principal and Income Act

This text of Montana § 72-34-432 (Undistributed Income -- Definition -- Payment To Beneficiary) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 72-34-432 (2026).

Text

72-34-432 . Undistributed income -- definition -- payment to beneficiary.

(1)(a) For the purposes of this section, "undistributed income" means net income received before the date on which an income interest ends.

(b)The term 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 by the trust.

(2)Except as provided in subsection (3), on the date when a mandatory income interest ends, the trustee shall pay to a mandatory income beneficiary who survives that date or to 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 trust.

(3)If immediately before the income interest ends,

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72-34-432 . Undistributed income -- definition -- payment to beneficiary. (1) (a) For the purposes of this section, "undistributed income" means net income received before the date on which an income interest ends.
(b) The term 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 by the trust.
(2) Except as provided in subsection (3), on the date when a mandatory income interest ends, the trustee shall pay to a mandatory income beneficiary who survives that date or to 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 trust.
(3) If immediately before the income interest ends, the beneficiary under subsection (2) has an unqualified power to revoke more than 5% of the trust, the undistributed income from the portion of the trust that may be revoked must be added to principal.
(4) 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.