What Does This Mean In English?
Location: Virginia, USA
This is from a trust that contains a traditional IRA that makes up a large portion of the value of the trust. I cut out some jargon that wasn't relevant.
Notwithstanding that the portion of any IRA (hereinafter, “such Portion”) payable to the Trustee is allocated to principal for trust accounting purposes, the Trustee shall allocate to income that part of each annual installment payment from such Portion (or if distributions are received more frequently than annually, that part of all distributions made during the annual period) equal to the income earned by such Portion for such annual period. If distributions from such Portion for any annual period total less than the income earned by such Portion for such annual period, the Trustee shall demand additional distributions from such Portion, such that all distributions for any annual period shall equal no less than the income earned by such Portion for such annual period. The Settlor’s Beneficiary shall have full power, in their discretion subject to the terms of the retirement plan and applicable law, to compel the Trustee to demand such distributions. Other distributions from such Portion to any trust administered under this instrument shall be allocated to principal.
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