Mandatory income interest definition

Mandatory income interest means the right of an income beneficiary to receive net income that the terms of the trust require the fiduciary to distribute.

Mandatory income interest means the right of an income

Mandatory income interest means the right of an income beneficiary to receive net income that the

Examples of Mandatory income interest in a sentence

• Mandatory income interest" means the right of an income beneficiary to receive net income that the terms of the trust require the fiduciary to distribute.[PL 2017, c.

• Mandatory income interest" means the right of an income beneficiary to receive net income that the terms of the trust require the fiduciary to distribute.

• As used in this chapter, "income interest" means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it tobe distributed or authorize it to be distributed in the trustee's discretion.As added by P.L.84-2002, SEC.2. IC 30-2-14-7 "Mandatory income interest" definedSec.

• Mandatory income interest" means the right of an income beneficiary to receive net income that the terms of the trust require the fiduciary to distribute.[ 2017, c.

• The share capital of the Transferor Company 1 as per the unaudited balance sheet as on 30 June 2021 is as under: ParticularsAmount (INR)Authorized Capital 70,00,000 Equity Shares of INR 10/- each7,00,00,000Total7,00,00,000Issued and Paid-up Capital 26,72,545 Equity Shares of INR 10/- each, fully paid up2,67,25,450Total2,67,25,450 Subsequent to 30 June 2021, there has been no change in the share capital of Transferor Company 1.

• Mandatory income interest in QTIP Trust – creditors may be able to reach income once distributed --more exposed to creditors than a totally discretionary by-pass trust3.

More Definitions of Mandatory income interest

Mandatory income interest means the right of a current income

Mandatory income interest means the right of an income beneficiary to receive

Mandatory income interest means the right of a current income beneficiary to

Mandatory income interest means the right of a

Mandatory income interest means the right of a current income beneficiary to receive net income

Mandatory income interest means the right of an income beneficiary to receive net 2247 income that the trust provisions require the fiduciary to distribute. 2248 (8) 'Net income' means the total receipts allocated to income during an accounting period 2249 minus the disbursements made from income during the period, plus or minus transfers 2250 under this article to or from income during the period. 2251 (9) 'Person' means an individual, corporation, business trust, estate, trust, partnership, 2252 limited liability company, association, joint venture, or government; a governmental 2253 subdivision, agency, or instrumentality; a public corporation; or any other legal or 2254 commercial entity. 2255 (10) 'Principal' means property held in trust for distribution to a remainder beneficiary 2256 when the trust terminates. 2257 (11) 'Terms of the trust' means the manifestation of the intent of a settlor or decedent 2258 with respect to the trust, expressed in a manner that admits of its proof in a judicial 2259 proceeding. 2260 (12) 'Trustee' includes an original, additional, or successor trustee, whether or not 2261 appointed or confirmed by a court.