Rule 7.901. Trustee's accounts

(a) Period covered A trustee’s account must state the period covered by the account.

(b) First account The first account in a testamentary trust must reconcile the initial assets on hand with the decree of distribution of the estate.

(c) Principal and income All trustee’s accounts in a trust that distributes income to a beneficiary must allocate receipts and disbursements between (1) principal receipts and disbursements, and (2) income receipts and disbursements.

Committee Notes

(Subd (a) amended effective January 1, 2002.)

(Subd (b) amended effective January 1, 2002.)

(Subd (c) amended effective January 1, 2002.)