Compensación diferida y activos futuros en pagos

Sec. 116.172. DEFERRED COMPENSATION, ANNUITIES, AND SIMILAR PAYMENTS. (a) In this section: (1) "Future payment asset" means the asset from which a payment is derived. Statute text rendered on: - 866 - 10/26/2024 PROPERTY CODE (2) "Payment" means a payment that a trustee may receive over a fixed number of years or during the life of one or more individuals because of services rendered or property transferred to the payer in exchange for future payments. The term includes a payment made in money or property from the payer's general assets or from a separate fund created by the payer. (3) "Separate fund" includes a private or commercial annuity, an individual retirement account, and a pension, profit- sharing, stock-bonus, or stock-ownership plan. (b) To the extent that the payer characterizes a payment as interest or a dividend or a payment made in lieu of interest or a dividend, a trustee shall allocate it to income. The trustee shall allocate to principal the balance of the payment and any other payment received in the same accounting period that is not characterized as interest, a dividend, or an equivalent payment. (c) If no part of a payment is characterized as interest, a dividend, or an equivalent payment, and all or part of the payment is required to be made, a trustee shall allocate to income the part of the payment that does not exceed an amount equal to: (1) four percent of the fair market value of the future payment asset on the date specified in Subsection (d); les