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2024 Florida Statutes (Including 2025C)
SECTION 402
Distribution from trust or estate.
Distribution from trust or estate.
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.