Cal. Prob. Code § 16322
General Provisions and Definitions
Redline — January 1, 2011 → current.View current text →
Current — January 1, 2023
As of January 1, 2011
“Accounting period” means a calendar year unless another 12-month period is selected by a fiduciary. The term includes a portion of a calendar year or other 12-month period that begins when an income interest begins or ends when an income interest ends.
Except as otherwise provided in the terms of a trust or this chapter, this chapter applies to the following:
(a) A trust or an estate.
(b) A life estate or other term interest in which the interest of one or more persons will be succeeded by the interest of one or more other persons.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.