Idaho Code 68-10-408 – Insubstantial Allocations Not Required
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If a trustee determines that an allocation between principal and income required by section 68-10-409, 68-10-410, 68-10-411, 68-10-412 or 68-10-415, Idaho Code, is insubstantial, the trustee may allocate the entire amount to principal unless one (1) of the circumstances described in section 68-10-104(c), Idaho Code, applies to the allocation. This power may be exercised by a cotrustee in the circumstances described in section 68-10-104(d), Idaho Code, and may be released for the reasons and in the manner described in section 68-10-104(e), Idaho Code. An allocation is presumed to be insubstantial if:
(1) The amount of the allocation would increase or decrease net income in an accounting period, as determined before the allocation, by less than ten percent (10%); or
Terms Used In Idaho Code 68-10-408
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Trustee: A person or institution holding and administering property in trust.
(2) The value of the asset producing the receipt for which the allocation would be made is less than ten percent (10%) of the total value of the trust’s assets at the beginning of the accounting period.