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2017 Alaska Statutes
Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions
Chapter 38. Alaska Principal and Income Act
Article 6. Allocation of Receipts during Administration of Trust
Sec. 13.38.610. Distribution from trust or estate.
Universal Citation: AK Stat § 13.38.610 (2017)
(a) A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest.
(b) A trustee shall allocate to principal an amount received as a distribution of principal from a trust or estate in which the trust has an interest other than a purchased interest.
(c) If a trustee purchases an interest in a trust that is an investment entity, or a decedent or donor transfers an interest in a trust that is an investment entity to a trustee, AS 13.38.600 or 13.38.750 applies to a receipt from the trust.
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