386.490 Disbursements from income.

140 words·~1 min read·/ky/chapter-386/386-490

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A trustee shall make the following disbursements from income to the extent that they are not disbursements to which KRS 386.456(2)(b) or (2)(c) applies:

(1)One-half (1/2) of the regular compensation of the trustee and of any person

providing investment advisory or custodial services to the trustee;

(2)One-half (1/2) of all expenses for accountings, judicial proceedings, or other matters

that involve both the income and remainder interests;

(3)All of the other ordinary expenses incurred in connection with the administration,

management, or preservation of trust property and the distribution of income,

including interest, ordinary repairs, regularly recurring taxes assessed against

principal, and expenses of a proceeding or other matter that concerns primarily the

income interest; and

(4)Recurring premiums on insurance covering the loss of a principal asset or the loss

of income from or use of the asset.