469.445. Marital deduction, insufficient income, allowable actions.
Marital deduction, insufficient income, allowable actions.
469.445. 1. If a marital deduction is allowed for all or part of atrust whose assets consist substantially of property that does not providethe spouse with sufficient income from or use of the trust assets, and ifthe amounts that the trustee transfers from principal to income pursuant tosection 469.405 and distributes to the spouse from principal pursuant tothe terms of the trust are insufficient to provide the spouse with thebeneficial enjoyment required to obtain the marital deduction, the spousemay require the trustee to make property productive of income, convertproperty within a reasonable time, or exercise the power conferred bysubsection 1 of section 469.405. The trustee may decide which action orcombination of actions to take.
2. In cases not governed by subsection 1 of this section, proceedsfrom the sale or other disposition of an asset are principal without regardto the amount of income the asset produces during any accounting period.
(L. 2001 H.B. 241)