Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY
< > • Effective - 28 Aug 2001469.455. Depreciation not to be transferred. — 1. As used in this section, the term "depreciation" means a reduction in value due to wear, tear, decay, corrosion or gradual obsolescence of a fixed asset having a useful life of more than one year.
2. A trustee may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation, but may not transfer any amount for depreciation:
(1) Of that portion of real property used or available for use by a beneficiary as a residence or of tangible personal property held or made available for the personal use or enjoyment of a beneficiary;
(2) During the administration of a decedent's estate; or
(3) Pursuant to this section if the trustee is accounting pursuant to section 469.427 for the business or activity in which the asset is used.
3. An amount transferred to principal need not be held as a separate fund.
--------
(L. 2001 H.B. 241)
---- end of effective 28 Aug 2001 ----
|
|||
Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law | |||
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. |
![]() |
||
|
Recent Sections | Editorials | May Be Cited As | Tables & Forms | Multiple Enact |
Repeal & Transfer | Definitions | End Report | ||
|
||||
Site changes | Pictures | Kontakt |
Legislative Research | Oversight | MOLIS | |||
Library | MO WebMasters |
Errors / suggestions - [email protected] |
![]() |
©Missouri Legislature, all rights reserved. | |||||||
![]() |
![]() |
![]() |
![]() |