GroundRules
Iowa Code § 637.402: Distribution from trust or estate.
Where this section sits in the code
- Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES (Ch. 595 - 686D)
- Chapter 637 - UNIFORM PRINCIPAL AND INCOME ACT
- Subchapter IV - ADMINISTRATION OF TRUST
- Part 1 - RECEIPTS FROM ENTITIES
1. Subject to the terms of a recipient trust, 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 shall be allocated to income.
2. An amount received as a distribution of principal from such a trust or estate shall be allocated to principal.
3. 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 637.401 applies to a receipt from the trust.
Collected 2026-09-14T19:40:16Z. Source file · JSON