Part 5.--ALLOCATION OF DISBURSEMENTS DURING ADMINISTRATION OF TRUST
Article 9.--UNIFORM PRINCIPAL AND INCOME ACT (1997)
58-9-503.Transfers from income to principal fordepreciation.(a) As used in this section, "depreciation" means areduction in value due to wear,tear, decay, corrosion, or gradual obsolescence of a fixed asset having auseful lifeof more than one year.
(b) A trustee may transfer to principal a reasonable amount of the netcashreceipts from a principal asset that is subject to depreciation, but may nottransferany amount for depreciation:
(1) Of that portion of real property used or available for use by abeneficiary as a residence or of tangible personal property held or madeavailablefor the personal use or enjoyment of a beneficiary;
(2) during the administration of a decedent's estate; or
(3) under this section if the trustee is accounting under K.S.A. 58-9-403 forthe business or activity in which the asset is used.
(c) An amount transferred to principal need not be held as a separate fund.
Part 5.--ALLOCATION OF DISBURSEMENTS DURING ADMINISTRATION OF TRUST
Article 9.--UNIFORM PRINCIPAL AND INCOME ACT (1997)
58-9-503.Transfers from income to principal fordepreciation.(a) As used in this section, "depreciation" means areduction in value due to wear,tear, decay, corrosion, or gradual obsolescence of a fixed asset having auseful lifeof more than one year.
(b) A trustee may transfer to principal a reasonable amount of the netcashreceipts from a principal asset that is subject to depreciation, but may nottransferany amount for depreciation:
(1) Of that portion of real property used or available for use by abeneficiary as a residence or of tangible personal property held or madeavailablefor the personal use or enjoyment of a beneficiary;
(2) during the administration of a decedent's estate; or
(3) under this section if the trustee is accounting under K.S.A. 58-9-403 forthe business or activity in which the asset is used.
(c) An amount transferred to principal need not be held as a separate fund.
Part 5.--ALLOCATION OF DISBURSEMENTS DURING ADMINISTRATION OF TRUST
Article 9.--UNIFORM PRINCIPAL AND INCOME ACT (1997)
58-9-503.Transfers from income to principal fordepreciation.(a) As used in this section, "depreciation" means areduction in value due to wear,tear, decay, corrosion, or gradual obsolescence of a fixed asset having auseful lifeof more than one year.
(b) A trustee may transfer to principal a reasonable amount of the netcashreceipts from a principal asset that is subject to depreciation, but may nottransferany amount for depreciation:
(1) Of that portion of real property used or available for use by abeneficiary as a residence or of tangible personal property held or madeavailablefor the personal use or enjoyment of a beneficiary;
(2) during the administration of a decedent's estate; or
(3) under this section if the trustee is accounting under K.S.A. 58-9-403 forthe business or activity in which the asset is used.
(c) An amount transferred to principal need not be held as a separate fund.
