Idaho State Statutes - Idaho Attorney Directory

(a)
Each beneficiary described in section 68-10-201(4), Idaho Code, is entitled to
receive a portion of the net income equal to the beneficiary's fractional
interest in undistributed principal assets, using values as of the
distribution date. If a fiduciary makes more than one (1) distribution of
assets to beneficiaries to whom this section applies, each beneficiary,
including one who does not receive part of the distribution, is entitled, as
of each distribution date, to the net income the fiduciary has received after
the date of death or terminating event or earlier distribution date but has
not distributed as of the current distribution date.
(b) In determining a beneficiary's share of net income, the following
rules apply:
(1) The beneficiary is entitled to receive a portion of the net income
equal to the beneficiary's fractional interest in the undistributed
principal assets immediately before the distribution date, including
assets that later may be sold to meet principal obligations.
(2) The beneficiary's fractional interest in the undistributed principal
assets must be calculated without regard to property specifically given to
a beneficiary and property required to pay pecuniary amounts not in trust.
(3) The beneficiary's fractional interest in the undistributed principal
assets must be calculated on the basis of the aggregate value of those
assets as of the distribution date without reducing the value by any
unpaid principal obligation.
(4) The distribution date for purposes of this section may be the date as
of which the fiduciary calculates the value of the assets if that date is
reasonably near the date on which assets are actually distributed.
(c) If a fiduciary does not distribute all of the collected but
undistributed net income to each person as of a distribution date, the
fiduciary shall maintain appropriate records showing the interest of each
beneficiary in that net income.
(d) A fiduciary may apply the rules in this section, to the extent that
the fiduciary considers it appropriate, to net gain or loss realized after the
date of death or terminating event or earlier distribution date from the
disposition of a principal asset if this section applies to the income from
the asset.

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