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The Florida Statutes

The 2024 Florida Statutes

Title XLII
ESTATES AND TRUSTS
Chapter 738
UNIFORM FIDUCIARY INCOME AND PRINCIPAL ACT
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F.S. 738.402
738.402 Distribution from trust or estate.A fiduciary shall allocate to income an amount received as a distribution of income, including a unitrust distribution under ss. 738.301-738.310, from a trust or an estate in which the fiduciary has an interest, other than an interest purchased in a trust that is an investment entity, and shall allocate to principal an amount received as a distribution of principal from the trust or estate. If a fiduciary purchases, or receives from a settlor, an interest in a trust that is an investment entity, s. 738.401, s. 738.415, or s. 738.416 applies to a receipt from the trust.
History.s. 1, ch. 2002-42; s. 13, ch. 2012-49; s. 21, ch. 2024-216.