C.R.S. Section 15-1.2-702
Apportionment of receipts and disbursements when decedent dies or income interest begins

(1)

A fiduciary shall allocate an income receipt or disbursement, other than a receipt to which section 15-1.2-601 (2) applies, to principal if its due date occurs before the date on which:

(a)

For an estate, the decedent died; or

(b)

For a trust or successive interest, an income interest begins.

(2)

If the due date of a periodic income receipt or disbursement occurs on or after the date on which a decedent died or an income interest begins, a fiduciary shall allocate the receipt or disbursement to income.

(3)

If an income receipt or disbursement is not periodic or has no due date, a fiduciary shall treat the receipt or disbursement under this section as accruing from day to day. The fiduciary shall allocate to principal the portion of the receipt or disbursement accruing before the date on which a decedent died or an income interest begins, and to income the balance.

(4)

A receipt or disbursement is periodic under subsections (2) and (3) of this section if:

(a)

The receipt or disbursement must be paid at regular intervals under an obligation to make payments; or

(b)

The payor customarily makes payments at regular intervals.

(5)

An item of income or obligation is due under this section on the date the payor is required to make a payment. If a payment date is not stated, there is no due date.

(6)

Distributions to shareholders or other owners from an entity to which section 15-1.2-401 applies are due:

(a)

On the date fixed by or on behalf of the entity for determining the persons entitled to receive the distribution;

(b)

If no date is fixed, on the date of the decision by or on behalf of the entity to make the distribution; or

(c)

If no date is fixed and the fiduciary does not know the date of the decision by or on behalf of the entity to make the distribution, on the date the fiduciary learns of the decision.

Source: Section 15-1.2-702 — Apportionment of receipts and disbursements when decedent dies or income interest begins, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2024-title-15.­pdf (accessed May 26, 2025).

15–1.2–101
Short title 15–1.2–102
Definitions 15–1.2–103
Scope 15–1.2–104
Governing law 15–1.2–201
Fiduciary duties - general principles 15–1.2–202
Judicial review of exercise of discretionary power - definition 15–1.2–203
Fiduciary’s power to adjust 15–1.2–204
Notice of action - definitions 15–1.2–301
Definitions 15–1.2–302
Application - duties and remedies 15–1.2–303
Authority of fiduciary 15–1.2–304
Notice 15–1.2–305
Unitrust policy 15–1.2–306
Unitrust rate 15–1.2–307
Applicable value 15–1.2–308
Period 15–1.2–309
Special tax benefits - rules 15–1.2–401
Character of receipts from entity - definitions 15–1.2–402
Distribution from trust or estate 15–1.2–403
Business of other activity conducted by fiduciary 15–1.2–404
Principal receipts 15–1.2–405
Rental property 15–1.2–406
Receipt on obligation to be paid in money 15–1.2–407
Insurance policy or contract 15–1.2–408
Insubstantial allocation not required 15–1.2–409
Deferred compensation, annuity, or similar payment - definitions 15–1.2–410
Liquidating asset - definition 15–1.2–411
Minerals, water, and other natural resources 15–1.2–412
Timber 15–1.2–413
Marital deduction property not productive of income 15–1.2–414
Derivative or option - definition 15–1.2–415
Asset-backed security 15–1.2–416
Other financial instrument or arrangement 15–1.2–501
Disbursement from income 15–1.2–502
Disbursement from principal 15–1.2–503
Transfer from income to principal for depreciation - definition 15–1.2–504
Reimbursement of income from principal 15–1.2–505
Reimbursement of principal from income 15–1.2–506
Income taxes 15–1.2–507
Adjustment between income and principal because of taxes 15–1.2–601
Determination and distribution of net income 15–1.2–602
Distribution to successor beneficiary 15–1.2–701
When right to income begins and ends 15–1.2–702
Apportionment of receipts and disbursements when decedent dies or income interest begins 15–1.2–703
Apportionment when income interest ends - definition 15–1.2–801
Uniformity of application and construction 15–1.2–802
Relation to electronic signatures in global and national commerce act 15–1.2–803
Application to trust or estate 15–1.2–804
Severability

Current through Fall 2025

§ 15-1.2-702. Apportionment of receipts & disbursements when decedent dies or income interest begins's source at colorado​.gov