Vermont Statutes Title 14 Sec. 3352
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Terms Used In Vermont Statutes Title 14 Sec. 3352
- Decedent: A deceased person.
- Donor: The person who makes a gift.
- Income: means money or property that a fiduciary receives as current return from a principal asset. See
- Principal: means property held in trust for distribution to a remainder beneficiary when the trust terminates. See
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional, or successor trustee, whether or not appointed or confirmed by a court. See
§ 3352. Distribution from trust or estate
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 3351 or 3365 of this title applies to a receipt from the trust. (Added 2011, No. 114 (Adj. Sess.), § 1.)