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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 38. Principal and Income of Trusts
- Section 560. Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins.
previous: Section 550
. When Right to Income Begins and Ends.
next: Section 570
. Apportionment When Income Interest Ends.
AS 13.38.560. Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins.
- (a) Unless AS 13.38.500
(1) applies, a trustee shall allocate an income receipt or disbursement to principal if its due date occurs before
- (1) a decedent dies, in the case of an estate; or
- (2) an income interest begins, in the case of a trust or successive income interest.
- (b) A trustee shall allocate an income receipt or disbursement to income if its due date occurs on or after the date on
which a decedent dies or an income interest begins and its due date is periodic. An income receipt or disbursement
shall be treated as accruing from day to day if its due date is not periodic or it does not have a due date. The
portion of the receipt or disbursement accruing before the date on which a decedent dies or an income interest begins
shall be allocated to principal, and the balance shall be allocated to income.
- (c) An item of income or an obligation is due on the date the payor is required to make a payment. If a payment date is
not stated, there is not a due date for the purposes of this chapter. Distributions to shareholders or other owners
from an entity to which AS 13.38.600
applies are considered to be due on the date fixed by the entity for determining who is entitled to receive the
distribution or, if a date is not fixed, on the declaration date for the distribution. A due date is periodic for
receipts or disbursements that must be paid at regular intervals under a lease or an obligation to pay interest or if
an entity customarily makes distributions at regular intervals.
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