68-10-413. PROPERTY NOT PRODUCTIVE OF INCOME. (a) If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse with sufficient income from or use of the trust assets, and if the amounts that the trustee transfers from principal to income under section 68-10-104, Idaho Code, and distributes to the spouse from principal pursuant to the terms of the trust are insufficient to provide the spouse with the beneficial enjoyment required to obtain the marital deduction, the spouse may require the trustee to make property productive of income, convert property within a reasonable time, or exercise the power conferred by section 68-10-104(a), Idaho Code. The trustee may decide which action or combination of actions to take.
(b) In cases not governed by subsection (a) of this section, proceeds from the sale or other disposition of an asset are principal without regard to the amount of income the asset produces during any accounting period.
History:
[68-10-413, added 2001, ch. 261, sec. 2, p. 957.]
Structure Idaho Code
Title 68 - TRUSTS AND FIDUCIARIES
Chapter 10 - UNIFORM PRINCIPAL AND INCOME ACT
Part 4 - ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST
Section 68-10-401 - CHARACTER OF RECEIPTS.
Section 68-10-402 - DISTRIBUTION FROM TRUST OR ESTATE.
Section 68-10-403 - BUSINESS AND OTHER ACTIVITIES CONDUCTED BY TRUSTEE.
Section 68-10-404 - PRINCIPAL RECEIPTS.
Section 68-10-405 - RENTAL PROPERTY.
Section 68-10-406 - OBLIGATION TO PAY MONEY.
Section 68-10-407 - INSURANCE POLICIES AND SIMILAR CONTRACTS.
Section 68-10-408 - INSUBSTANTIAL ALLOCATIONS NOT REQUIRED.
Section 68-10-409 - DEFERRED COMPENSATION, ANNUITIES, AND SIMILAR PAYMENTS.
Section 68-10-410 - LIQUIDATING ASSET.
Section 68-10-411 - MINERALS, WATER AND OTHER NATURAL RESOURCES.
Section 68-10-413 - PROPERTY NOT PRODUCTIVE OF INCOME.