RCW 11.104B.570
Death or termination of interest—Apportionment when income interest ends.
(1) In this section, "undistributed income" means net income received on or before the date on which an income interest ends. The term does not include an item of income or expense which is due or accrued or net income that has been added or is required to be added to principal under the terms of the trust.
(2) Except as otherwise provided in subsection (3) of this section, when a mandatory income interest of a beneficiary ends, the fiduciary shall pay the beneficiary's share of the undistributed income that is not disposed of under the terms of the trust to the beneficiary or, if the beneficiary does not survive the date the interest ends, to the beneficiary's estate.
(3) If a beneficiary has an unqualified power to withdraw more than five percent of the value of a trust immediately before an income interest ends:
(a) The fiduciary shall allocate to principal the undistributed income from the portion of the trust which may be withdrawn; and
(b) Subsection (2) of this section applies only to the balance of the undistributed income.
(4) When a fiduciary's obligation to pay a fixed annuity or a fixed fraction of the value of assets ends, the fiduciary shall prorate the final payment as required to preserve an income tax, gift tax, estate tax, or other tax benefit.
[ 2021 c 140 § 2703.]
Structure Revised Code of Washington
Title 11 - Probate and Trust Law
Chapter 11.104B - Uniform Fiduciary Income and Principal Act.
11.104B.050 - Fiduciary duties—General principles.
11.104B.070 - Fiduciary duties—Power to adjust.
11.104B.100 - Unitrusts—Definitions.
11.104B.110 - Unitrusts—Application—Duties and remedies.
11.104B.120 - Unitrusts—Authority of fiduciary.
11.104B.130 - Unitrusts—Notice.
11.104B.140 - Unitrusts—Unitrust policies.
11.104B.150 - Unitrusts—Unitrust rates.
11.104B.160 - Unitrusts—Applicable value.
11.104B.170 - Unitrusts—Period.
11.104B.180 - Unitrust—Special tax benefits—Other rules.
11.104B.200 - Receipts from entities—Character.
11.104B.210 - Receipts from entities—Distributions from trusts and estates.
11.104B.220 - Receipts from entities—Businesses and other activities conducted by fiduciary.
11.104B.230 - Receipts not normally apportioned—Principal receipts.
11.104B.240 - Receipts not normally apportioned—Rental property.
11.104B.250 - Receipts not normally apportioned—Receipt on obligation to be paid in money.
11.104B.260 - Receipts not normally apportioned—Insurance policies and contracts.
11.104B.270 - Receipts normally apportioned—Insubstantial allocation not required.
11.104B.280 - Receipts normally apportioned—Deferred compensation, annuities, and similar payments.
11.104B.290 - Receipts normally apportioned—Liquidating assets.
11.104B.300 - Receipts normally apportioned—Minerals, water, and other natural resources.
11.104B.310 - Receipts normally apportioned—Timber.
11.104B.320 - Receipts normally apportioned—Marital deduction property not productive of income.
11.104B.330 - Receipts normally apportioned—Derivatives and options.
11.104B.340 - Receipts normally apportioned—Asset-backed securities.
11.104B.350 - Receipts normally apportioned—Other financial instruments and arrangements.
11.104B.400 - Disbursements—Disbursement from income.
11.104B.410 - Disbursements—Disbursement from principal.
11.104B.420 - Disbursements—Transfer from income to principal for depreciation.
11.104B.430 - Disbursements—Reimbursement of income from principal.
11.104B.440 - Disbursements—Reimbursement of principal from income.
11.104B.450 - Disbursements—Income taxes.
11.104B.460 - Disbursements—Adjustment between income and principal because of taxes.
11.104B.500 - Death or termination of interest—Determination and distribution of net income.
11.104B.510 - Death or termination of interest—Distribution to successor beneficiary.
11.104B.550 - Death or termination of interest—When right to income begins and ends.
11.104B.570 - Death or termination of interest—Apportionment when income interest ends.
11.104B.900 - Uniformity of application and construction.
11.104B.901 - Relation to electronic signatures in global and national commerce act.
11.104B.903 - Application of chapter 11.96A RCW.
11.104B.904 - Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.