Death of decedent or end of income interest, applicable rules.
469.413. After a decedent dies, in the case of an estate, or after anincome interest in a trust ends, the following rules apply:
(1) A fiduciary of an estate or of a terminating income interestshall determine the amount of net income and net principal receiptsreceived from property specifically given to a beneficiary pursuant to therules in sections 469.417 to 469.461 which apply to trustees and the rulesin subdivision (5) of this section. The fiduciary shall distribute the netincome and net principal receipts to the beneficiary who is to receive thespecific property;
(2) A fiduciary shall determine the remaining net income of adecedent's estate or a terminating income interest pursuant to the rules insections 469.417 to 469.461 which apply to trustees and by:
(a) Including in net income all income from property used todischarge liabilities;
(b) Paying from income or principal, in the fiduciary's discretion,fees of attorneys, accountants and fiduciaries; court costs and otherexpenses of administration; and interest on death taxes, but the fiduciarymay pay those expenses from income of property passing to a trust for whichthe fiduciary claims an estate tax marital or charitable deduction only tothe extent that the payment of those expenses from income will not causethe reduction or loss of the deduction; and
(c) Paying from principal all other disbursements made or incurred inconnection with the settlement of a decedent's estate or the winding up ofa terminating income interest, including debts, funeral expenses,disposition of remains, family allowances, and death taxes and relatedpenalties that are apportioned to the estate or terminating income interestby the will, the terms of the trust, or applicable law;
(3) A fiduciary shall distribute to a beneficiary who receives apecuniary amount outright the interest or any other amount provided by thewill, the terms of the trust, or in the absence of any such provisions, theprovisions of section 473.633, RSMo, from net income determined pursuant tosubdivision (2) of this section or from principal to the extent that netincome is insufficient. If a beneficiary is to receive a pecuniary amountoutright from a trust after an income interest ends and no interest orother amount is provided for by the terms of the trust or applicable law,the fiduciary shall distribute the interest or other amount to which thebeneficiary would be entitled under applicable law if the pecuniary amountwere required to be paid under a will;
(4) A fiduciary shall distribute the net income remaining afterdistributions required by subdivision (3) of this section in the mannerdescribed in section 469.415 to all other beneficiaries, including abeneficiary who receives a pecuniary amount in trust, even if thebeneficiary holds an unqualified power to withdraw assets from the trust orother presently exercisable general power of appointment over the trust;
(5) A fiduciary may not reduce principal or income receipts fromproperty described in subdivision (1) of this section because of a paymentdescribed in sections 469.451 and 469.453 to the extent that the will, theterms of the trust, or applicable law requires the fiduciary to make thepayment from assets other than the property or to the extent that thefiduciary recovers or expects to recover the payment from a third party.The net income and principal receipts from the property are determined byincluding all of the amounts the fiduciary receives or pays with respect tothe property, whether those amounts accrued or became due before, on orafter the date of a decedent's death or an income interest's terminatingevent, and by making a reasonable provision for amounts that the fiduciarybelieves the estate or terminating income interest may become obligated topay after the property is distributed.
Death of decedent or end of income interest, applicable rules.
469.413. After a decedent dies, in the case of an estate, or after anincome interest in a trust ends, the following rules apply:
(1) A fiduciary of an estate or of a terminating income interestshall determine the amount of net income and net principal receiptsreceived from property specifically given to a beneficiary pursuant to therules in sections 469.417 to 469.461 which apply to trustees and the rulesin subdivision (5) of this section. The fiduciary shall distribute the netincome and net principal receipts to the beneficiary who is to receive thespecific property;
(2) A fiduciary shall determine the remaining net income of adecedent's estate or a terminating income interest pursuant to the rules insections 469.417 to 469.461 which apply to trustees and by:
(a) Including in net income all income from property used todischarge liabilities;
(b) Paying from income or principal, in the fiduciary's discretion,fees of attorneys, accountants and fiduciaries; court costs and otherexpenses of administration; and interest on death taxes, but the fiduciarymay pay those expenses from income of property passing to a trust for whichthe fiduciary claims an estate tax marital or charitable deduction only tothe extent that the payment of those expenses from income will not causethe reduction or loss of the deduction; and
(c) Paying from principal all other disbursements made or incurred inconnection with the settlement of a decedent's estate or the winding up ofa terminating income interest, including debts, funeral expenses,disposition of remains, family allowances, and death taxes and relatedpenalties that are apportioned to the estate or terminating income interestby the will, the terms of the trust, or applicable law;
(3) A fiduciary shall distribute to a beneficiary who receives apecuniary amount outright the interest or any other amount provided by thewill, the terms of the trust, or in the absence of any such provisions, theprovisions of section 473.633, RSMo, from net income determined pursuant tosubdivision (2) of this section or from principal to the extent that netincome is insufficient. If a beneficiary is to receive a pecuniary amountoutright from a trust after an income interest ends and no interest orother amount is provided for by the terms of the trust or applicable law,the fiduciary shall distribute the interest or other amount to which thebeneficiary would be entitled under applicable law if the pecuniary amountwere required to be paid under a will;
(4) A fiduciary shall distribute the net income remaining afterdistributions required by subdivision (3) of this section in the mannerdescribed in section 469.415 to all other beneficiaries, including abeneficiary who receives a pecuniary amount in trust, even if thebeneficiary holds an unqualified power to withdraw assets from the trust orother presently exercisable general power of appointment over the trust;
(5) A fiduciary may not reduce principal or income receipts fromproperty described in subdivision (1) of this section because of a paymentdescribed in sections 469.451 and 469.453 to the extent that the will, theterms of the trust, or applicable law requires the fiduciary to make thepayment from assets other than the property or to the extent that thefiduciary recovers or expects to recover the payment from a third party.The net income and principal receipts from the property are determined byincluding all of the amounts the fiduciary receives or pays with respect tothe property, whether those amounts accrued or became due before, on orafter the date of a decedent's death or an income interest's terminatingevent, and by making a reasonable provision for amounts that the fiduciarybelieves the estate or terminating income interest may become obligated topay after the property is distributed.
Death of decedent or end of income interest, applicable rules.
469.413. After a decedent dies, in the case of an estate, or after anincome interest in a trust ends, the following rules apply:
(1) A fiduciary of an estate or of a terminating income interestshall determine the amount of net income and net principal receiptsreceived from property specifically given to a beneficiary pursuant to therules in sections 469.417 to 469.461 which apply to trustees and the rulesin subdivision (5) of this section. The fiduciary shall distribute the netincome and net principal receipts to the beneficiary who is to receive thespecific property;
(2) A fiduciary shall determine the remaining net income of adecedent's estate or a terminating income interest pursuant to the rules insections 469.417 to 469.461 which apply to trustees and by:
(a) Including in net income all income from property used todischarge liabilities;
(b) Paying from income or principal, in the fiduciary's discretion,fees of attorneys, accountants and fiduciaries; court costs and otherexpenses of administration; and interest on death taxes, but the fiduciarymay pay those expenses from income of property passing to a trust for whichthe fiduciary claims an estate tax marital or charitable deduction only tothe extent that the payment of those expenses from income will not causethe reduction or loss of the deduction; and
(c) Paying from principal all other disbursements made or incurred inconnection with the settlement of a decedent's estate or the winding up ofa terminating income interest, including debts, funeral expenses,disposition of remains, family allowances, and death taxes and relatedpenalties that are apportioned to the estate or terminating income interestby the will, the terms of the trust, or applicable law;
(3) A fiduciary shall distribute to a beneficiary who receives apecuniary amount outright the interest or any other amount provided by thewill, the terms of the trust, or in the absence of any such provisions, theprovisions of section 473.633, RSMo, from net income determined pursuant tosubdivision (2) of this section or from principal to the extent that netincome is insufficient. If a beneficiary is to receive a pecuniary amountoutright from a trust after an income interest ends and no interest orother amount is provided for by the terms of the trust or applicable law,the fiduciary shall distribute the interest or other amount to which thebeneficiary would be entitled under applicable law if the pecuniary amountwere required to be paid under a will;
(4) A fiduciary shall distribute the net income remaining afterdistributions required by subdivision (3) of this section in the mannerdescribed in section 469.415 to all other beneficiaries, including abeneficiary who receives a pecuniary amount in trust, even if thebeneficiary holds an unqualified power to withdraw assets from the trust orother presently exercisable general power of appointment over the trust;
(5) A fiduciary may not reduce principal or income receipts fromproperty described in subdivision (1) of this section because of a paymentdescribed in sections 469.451 and 469.453 to the extent that the will, theterms of the trust, or applicable law requires the fiduciary to make thepayment from assets other than the property or to the extent that thefiduciary recovers or expects to recover the payment from a third party.The net income and principal receipts from the property are determined byincluding all of the amounts the fiduciary receives or pays with respect tothe property, whether those amounts accrued or became due before, on orafter the date of a decedent's death or an income interest's terminatingevent, and by making a reasonable provision for amounts that the fiduciarybelieves the estate or terminating income interest may become obligated topay after the property is distributed.
