A trustee has a duty to make proper allocation of income items.Which of the following statements is true concerning this allocation?

Question

Quizplus · Accepted Answer

Under the duty of proper allocation of income items, ordinary expenses are chargeable to the income beneficiary. Ordinary income is allocated to the income beneficiary, while rents and royalties are allocated to the remainderman. Extraordinary repairs are usually chargeable to the corpus of the trust.

A Trustee Has a Duty to Make Proper Allocation of Income