Utah § 75A-5-701 When right to income begins and ends.

Utah Statutes

§ 75A-5-701 — When right to income begins and ends.

Utah § 75A-5-701

Title 75AFiduciaries

Ch. 75A-5Uniform Fiduciary Income and Principal Act

Part 75A-5-7Apportionment at Beginning and End of Income Interest

This text of Utah § 75A-5-701 (When right to income begins and ends.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 75A-5-701 (2026).

Text

(1)(1)(a) An income beneficiary is entitled to net income in accordance with the terms of the trust from the date on which an income interest begins.

(1)(b) The income interest begins on the date that is specified in the terms of the trust or, if no date is specified, on the date an asset becomes subject to:

(1)(b)(i) the trust for the current income beneficiary; or

(1)(b)(ii) a successive interest for a successor beneficiary.

(2)An asset becomes subject to a trust under Subsection (1)(b)(i):

(2)(a) for an asset that is transferred to the trust during the settlor's life, on the date the asset is transferred;

(2)(b) for an asset that becomes subject to the trust because of a decedent's death, on the date of the decedent's death, even if there is an intervening period of administration of

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(1) (1)(a) An income beneficiary is entitled to net income in accordance with the terms of the trust from the date on which an income interest begins.
(1)(b) The income interest begins on the date that is specified in the terms of the trust or, if no date is specified, on the date an asset becomes subject to:
(1)(b)(i) the trust for the current income beneficiary; or
(1)(b)(ii) a successive interest for a successor beneficiary.
(2) An asset becomes subject to a trust under Subsection (1)(b)(i):
(2)(a) for an asset that is transferred to the trust during the settlor's life, on the date the asset is transferred;
(2)(b) for an asset that becomes subject to the trust because of a decedent's death, on the date of the decedent's death, even if there is an intervening period of administration of the decedent's estate; or
(2)(c) for an asset that is transferred to a fiduciary by a third party because of a decedent's death, on the date of the decedent's death.
(3) An asset becomes subject to a successive interest under Subsection (1)(b)(ii) on the day after the preceding income interest ends, as determined under Subsection (4), even if there is an intervening period of administration to wind up the preceding income interest.
(4) An income interest ends on the day before an income beneficiary dies or another terminating event occurs or on the last day of a period during which there is no beneficiary to which a fiduciary is permitted or required to distribute income.