22-3-413 - Receipts normally apportioned -- Property not productive of income. - Utah Statutes

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22-3-413. Receipts normally apportioned -- Property not productive of income.
(1) If a marital deduction is allowed for all or part of a trust whose assets consistsubstantially of property that does not provide the spouse with sufficient income from or use ofthe trust assets, and if the amounts that the trustee transfers from principal to income underSection 22-3-104 and distributes to the spouse from principal pursuant to the terms of the trustare insufficient to provide the spouse with the beneficial enjoyment required to obtain the maritaldeduction, the spouse may require the trustee to make property productive of income, convertproperty within a reasonable time, or exercise the power conferred by Subsection 22-3-104(1). The trustee may decide which action or combination of actions to take.
(2) In cases not governed by Subsection (1), proceeds from the sale or other dispositionof an asset are principal without regard to the amount of income the asset produces during anyaccounting period.

Enacted by Chapter 285, 2004 General Session

State Codes and Statutes

Statutes > Utah > Title-22 > Chapter-03 > 22-3-413

22-3-413. Receipts normally apportioned -- Property not productive of income.
(1) If a marital deduction is allowed for all or part of a trust whose assets consistsubstantially of property that does not provide the spouse with sufficient income from or use ofthe trust assets, and if the amounts that the trustee transfers from principal to income underSection 22-3-104 and distributes to the spouse from principal pursuant to the terms of the trustare insufficient to provide the spouse with the beneficial enjoyment required to obtain the maritaldeduction, the spouse may require the trustee to make property productive of income, convertproperty within a reasonable time, or exercise the power conferred by Subsection 22-3-104(1). The trustee may decide which action or combination of actions to take.
(2) In cases not governed by Subsection (1), proceeds from the sale or other dispositionof an asset are principal without regard to the amount of income the asset produces during anyaccounting period.

Enacted by Chapter 285, 2004 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-22 > Chapter-03 > 22-3-413

22-3-413. Receipts normally apportioned -- Property not productive of income.
(1) If a marital deduction is allowed for all or part of a trust whose assets consistsubstantially of property that does not provide the spouse with sufficient income from or use ofthe trust assets, and if the amounts that the trustee transfers from principal to income underSection 22-3-104 and distributes to the spouse from principal pursuant to the terms of the trustare insufficient to provide the spouse with the beneficial enjoyment required to obtain the maritaldeduction, the spouse may require the trustee to make property productive of income, convertproperty within a reasonable time, or exercise the power conferred by Subsection 22-3-104(1). The trustee may decide which action or combination of actions to take.
(2) In cases not governed by Subsection (1), proceeds from the sale or other dispositionof an asset are principal without regard to the amount of income the asset produces during anyaccounting period.

Enacted by Chapter 285, 2004 General Session