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Maine Revised Statutes Title 18-C. Probate Code § 7-461. Disbursements from income

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A trustee shall make the following disbursements from income to the extent that they are not disbursements to which section 7-421, subsection 2, paragraph B or C applies:

1. Compensation. One-half of the regular compensation of the trustee and of any person providing investment advisory or custodial services to the trustee;

2. Expenses; income and remainder interests. One-half of all expenses for accountings, judicial proceedings or other matters that involve both the income and remainder interests;

3. Other ordinary expenses. All of the ordinary expenses other than those specified in subsections 1 and 2 incurred in connection with the administration, management or preservation of trust property and the distribution of income, including interest, ordinary repairs, regularly recurring taxes assessed against principal and expenses of a proceeding or other matter that concerns primarily the income interest; and

4. Recurring premiums. Recurring premiums on insurance covering the loss of a principal asset or the loss of income from or use of the asset.

Cite this article: FindLaw.com - Maine Revised Statutes Title 18-C. Probate Code § 7-461. Disbursements from income - last updated January 01, 2019 | https://codes.findlaw.com/me/title-18-c-probate-code/me-rev-st-tit-18-c-sect-7-461/


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