West Virginia Statutes
§ 44B-4-402 — Distribution from trust or estate
West Virginia·Ch. 44B UNIFORM PRINCIPAL AND INCOME ACT·Art. 4 ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST
A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest, and shall allocate to principal an amount received as a distribution of principal from such a trust or estate. 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 four hundred one or four hundred fifteen of this article applies to a receipt from the trust.
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Legislative History
2000 Reg. Sess., HB4494
Nearby Sections
15
§ 44B-1-101
Short title§ 44B-1-102
Definitions§ 44B-1-103
Fiduciary duties; general principles§ 44B-1-104
Trustee's power to adjust§ 44B-1-104a
Total return unitrust§ 44B-1-105
Trustee's right to give notice§ 44B-2-201
Determination and distribution of net income§ 44B-3-301
When right to income begins and ends§ 44B-3-303
Apportionment when income interest ends§ 44B-4-401
Character or receipts§ 44B-4-402
Distribution from trust or estate§ 44B-4-404
Principal receipts