California Probate Code

§ 16062

PROB § 16062 Effective Jan 1, 2017Div. 9 · Part 4 · Ch. 1 · Art. 3

Statute text

(a)Except as otherwise provided in this section and in Section 16064, the trustee shall account at least annually, at the termination of the trust, and upon a change of trustee, to each beneficiary to whom income or principal is required or authorized in the trustee’s discretion to be currently distributed.

(b)A trustee of a living trust created by an instrument executed before July 1, 1987, is not subject to the duty to account provided by subdivision (a).

(c)A trustee of a trust created by a will executed before July 1, 1987, is not subject to the duty to account provided by subdivision (a), except that if the trust is removed from continuing court jurisdiction pursuant to Article 2 (commencing with Section 17350) of Chapter 4 of Part 5, the duty to account provided by subdivision (a) applies to the trustee.

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Legislative history

Amended by Stats. 2016, Ch. 86, Sec. 250. (SB 1171) Effective January 1, 2017.