738.402 Distribution from trust or estate.
103 words·~1 min read·
/fl/title-xlii/chapter-738/738-402·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A fiduciary shall allocate to income an amount received as a distribution of income, including a unitrust distribution under ss. 738.301 - 738.310 , from a trust or an estate in which the fiduciary has an interest, other than an interest purchased in a trust that is an investment entity, and shall allocate to principal an amount received as a distribution of principal from the trust or estate. If a fiduciary purchases, or receives from a settlor, an interest in a trust that is an investment entity, s. 738.401 , s. 738.415 , or s. 738.416 applies to a receipt from the trust.