{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-1049.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-1049.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-1049.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-1049.html"}],"law_id":80790,"edition_id":1,"section_id":80790,"structure_id":15510,"section_number":"64.2-1049","catch_line":"Distribution from trust or estate","history":"2022, c. 354.","full_text":"A fiduciary shall allocate to income an amount received as a distribution of income, including a unitrust distribution under Article 3 (\u00a7 64.2-1039 et seq.), from a trust or estate in which the fiduciary has an interest, other than an interest the fiduciary 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, \u00a7 64.2-1048, 64.2-1062, or 64.2-1063 applies to a receipt from the trust.","order_by":null,"text":{"0":{"id":289612,"text":"A fiduciary shall allocate to income an amount received as a distribution of income, including a unitrust distribution under Article 3 (\u00a7 64.2-1039 et seq.), from a trust or estate in which the fiduciary has an interest, other than an interest the fiduciary 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, \u00a7 64.2-1048, 64.2-1062, or 64.2-1063 applies to a receipt from the trust.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15510,"edition_id":1,"name":"Allocation of Receipts: Receipts from Entity","identifier":"4","label":"article","depth":4,"order_by":1,"parent_id":13478,"metadata":{},"date_created":"2026-06-26 03:55:40","date_modified":"2026-06-26 03:55:40","permalink":{"id":273945,"object_type":"structure","relational_id":15510,"identifier":"4","token":"64.2\/III\/10.1\/4","url":"\/64.2\/III\/10.1\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13478,"edition_id":1,"name":"Uniform Fiduciary Income And Principal Act","identifier":"10.1","label":"chapter","depth":3,"order_by":1,"parent_id":12724,"metadata":{},"date_created":"2026-06-26 03:44:58","date_modified":"2026-06-26 03:44:58","permalink":{"id":273863,"object_type":"structure","relational_id":13478,"identifier":"10.1","token":"64.2\/III\/10.1","url":"\/64.2\/III\/10.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12724,"edition_id":1,"name":"Trusts","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12723,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":273811,"object_type":"structure","relational_id":12724,"identifier":"III","token":"64.2\/III","url":"\/64.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12723,"edition_id":1,"name":"Wills, Trusts, and Fiduciaries","identifier":"64.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":272781,"object_type":"structure","relational_id":12723,"identifier":"64.2","token":"64.2","url":"\/64.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":59116,"structure_id":15510,"section_number":"64.2-1048","catch_line":"Character of receipts from entity","url":"\/64.2-1048\/","token":"64.2\/III\/10.1\/4\/64.2-1048","metadata":false},{"id":80790,"structure_id":15510,"section_number":"64.2-1049","catch_line":"Distribution from trust or estate","url":"\/64.2-1049\/","token":"64.2\/III\/10.1\/4\/64.2-1049","metadata":false},{"id":60866,"structure_id":15510,"section_number":"64.2-1050","catch_line":"Business or other activity conducted by fiduciary","url":"\/64.2-1050\/","token":"64.2\/III\/10.1\/4\/64.2-1050","metadata":false}],"previous_section":{"id":59116,"structure_id":15510,"section_number":"64.2-1048","catch_line":"Character of receipts from entity","url":"\/64.2-1048\/","token":"64.2\/III\/10.1\/4\/64.2-1048","metadata":false},"next_section":{"id":60866,"structure_id":15510,"section_number":"64.2-1050","catch_line":"Business or other activity conducted by fiduciary","url":"\/64.2-1050\/","token":"64.2\/III\/10.1\/4\/64.2-1050","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-1049\/","history_text":"

This law was first created in 2022. The record of its establishment is cataloged in chapter 354<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":59116,"section_number":"64.2-1048","catch_line":"Character of receipts from entity","order_by":null,"url":"\/64.2-1048\/"}],"refers_to":[{"id":58297,"section_number":"64.2-1039","catch_line":"Definitions","order_by":null,"url":"\/64.2-1039\/"},{"id":59116,"section_number":"64.2-1048","catch_line":"Character of receipts from entity","order_by":null,"url":"\/64.2-1048\/"},{"id":69967,"section_number":"64.2-1062","catch_line":"Asset-backed security","order_by":null,"url":"\/64.2-1062\/"},{"id":72779,"section_number":"64.2-1063","catch_line":"Other financial instrument or arrangement","order_by":null,"url":"\/64.2-1063\/"}],"permalink":{"id":273951,"object_type":"law","relational_id":80790,"identifier":"64.2-1049","token":"64.2\/III\/10.1\/4\/64.2-1049","url":"\/64.2-1049\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-1049\/","token":"64.2\/III\/10.1\/4\/64.2-1049","dublin_core":{"Title":"Distribution from trust or estate","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-1049","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A fiduciary<\/span> shall allocate to income<\/span> an amount received as a distribution<\/span> of income<\/span>, including a unitrust distribution<\/span> under Article 3 (\u00a7 64.2-1039<\/a> et seq.), from a trust<\/span> or estate<\/span> in which the fiduciary<\/span> has an interest, other than an interest the fiduciary<\/span> purchased in a trust<\/span> that is an investment entity, and shall allocate to principal<\/span> an amount received as a distribution<\/span> of principal<\/span> from the trust<\/span> or estate<\/span>. If a fiduciary<\/span> purchases, or receives from a settlor<\/span>, an interest in a trust<\/span> that is an investment entity, \u00a7 64.2-1048<\/a>, 64.2-1062<\/a>, or 64.2-1063<\/a> applies to a receipt from the trust<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDISTRIBUTION FROM TRUST OR ESTATE (\u00a7 64.2-1049)\n\nA fiduciary shall allocate to income an amount received as a distribution of\nincome, including a unitrust distribution under Article 3 (\u00a7 64.2-1039 et\nseq.), from a trust or estate in which the fiduciary has an interest, other than\nan interest the fiduciary purchased in a trust that is an investment entity, and\nshall allocate to principal an amount received as a distribution of principal\nfrom the trust or estate. If a fiduciary purchases, or receives from a settlor,\nan interest in a trust that is an investment entity, \u00a7 64.2-1048, 64.2-1062, or\n64.2-1063 applies to a receipt from the trust.\n\nHISTORY: 2022, c. 354.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}