In the Matter of the Crider Family Share Trust and the Estate of Lawrence Edwin Crider, Deceased: Nathan D. Ricklin…

Summary

The Court held that the Principal and Income Act requires a trustee to determine whether an entity's distribution exceeds the partial-liquidation threshold on a post-tax basis. After deducting applicable income taxes, the Muskegon distributions did not exceed the statutory threshold, so the distributions properly remained income payable to the income beneficiary. The Court therefore upheld the finding that the trustee did not breach her fiduciary duty.