§ 2-3-807 — Distribution to residuary and remainder beneficiaries

(a) Each beneficiary described in W.S. 2-3-806(a)(iv) is
entitled to receive a portion of the net income equal to the
beneficiary's fractional interest in undistributed principal
assets, using values as of the distribution date. If a fiduciary
makes more than one (1) distribution of assets to beneficiaries
to whom this section applies, each beneficiary, including one
who does not receive part of the distribution, is entitled, as
of each distribution date, to the net income the fiduciary has
received after the date of death or terminating event or earlier
distribution date but has not distributed as of the current
distribution date.
(b) In determining a beneficiary's share of net income,
the following rules apply:
(i) The beneficiary is entitled to receive a portion
of the net income equal to the beneficiary's fractional interest
in the undistributed principal assets immediately before the
distribution date, including assets that later may be sold to
meet principal obligations;
(ii) The beneficiary's fractional interest in the
undistributed principal assets must be calculated without regard
to property specifically given to a beneficiary and property
required to pay pecuniary amounts not in trust;
(iii) The beneficiary's fractional interest in the
undistributed principal assets must be calculated on the basis
of the aggregate value of those assets as of the distribution
date without reducing the value by any unpaid principal
obligation; and
(iv) The distribution date for purposes of this
section may be the date as of which the fiduciary calculates the
value of the assets if that date is reasonably near the date on
which assets are actually distributed.
(c) If a fiduciary does not distribute all of the
collected but undistributed net income to each person as of a
distribution date, the fiduciary shall maintain appropriate
records showing the interest of each beneficiary in that net
income.
(d) A fiduciary may apply the rules in this section, to
the extent that the fiduciary considers it appropriate, to net
gain or loss realized after the date of death or terminating
event or earlier distribution date from the disposition of a
principal asset if this section applies to the income from the
asset.