{"data":{"id":"us-ky/krs-386.458","jurisdiction":"us-ky","citation":"KRS 386.458","heading":"Distribution to residuary and remainder beneficiaries.","body":"(1) Each beneficiary described in KRS 386.456(4) is entitled to receive a portion of the\nnet income equal to the beneficiary's fractional interest in undistributed principal\nassets, using values as of the distribution date. If a fiduciary makes more than one\n(1) distribution of assets to beneficiaries to whom this section applies, each\nbeneficiary, including one (1) who shall not receive part of the distribution, is\nentitled, as of each distribution date, to the net income the fiduciary has received\nafter the d ate of the death or terminating event or earlier distribution date but has\nnot distributed as of the current distribution date.\n(2) In determining a beneficiary's share of net income, the following rules apply:\n(a) The beneficiary is entitled to receive a portion of the net income equal to the\nbeneficiary's fractional interest in the undistributed principal assets\nimmediately before the distribution date, including assets that later may be\nsold to meet principal obligations.\n(b) The beneficiary's fractional interest in the undistributed principal assets shall\nbe calculated without regard to property specifically given to a beneficiary and\nproperty required to pay pecuniary amounts not in trust.\n(c) The beneficiary's fractional interest in the undistributed p rincipal assets shall\nbe calculated on the basis of the aggregate value of those assets as of the\ndistribution date without reducing the value by an unpaid principal obligation.\n(d) The distribution date for purposes of this section may be the date as of w hich\nthe fiduciary calculates the value of the assets if that date is reasonably near\nthe date on which assets are actually distributed.\n(3) If a fiduciary does not distribute all of the collected but undistributed net income to\neach person as of a distrib ution date, the fiduciary shall maintain appropriate\nrecords showing the interest of each beneficiary in that net income.\n(4) A fiduciary may apply the rules in this section, to the extent that the fiduciary\nconsiders it appropriate, to net gain or loss re alized after the date of death or\nterminating event or earlier distribution date from the disposition of a principal\nasset if this section applies to the income from the asset.","path":["KRS Chapter 386"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35921","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:16Z","sha256":"820ce44678a0533f7b1284722ac70042cffb9b82bc92746f9741306cde11426e","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386.456","next":"us-ky/krs-386.460"},"notice":"GroundRules: Original legal text. Not legal advice."}