2012 Connecticut General Statutes
Title 45a - Probate Courts and Procedure
Chapter 801b - Probate Court Procedures
Section 45a-177 - (Formerly Sec. 45-268). Periodic rendering of accounts; hearing. Nature of account. Exceptions.


CT Gen Stat § 45a-177 (2012) What's This?

(a) All conservators, guardians, persons appointed by the Court of Probate to sell land of minors and trustees, including those entrusted with testamentary trusts unless excused by the will creating the trust, shall render periodic accounts of their trusts signed under penalty of false statement to the Court of Probate having jurisdiction for allowance, at least once during each three-year period and more frequently if required to do so by the will or trust instrument creating the trust. Periodic accounts for filing only may be submitted to the court at any time during each three-year period. Upon receipt of a periodic account, the court shall cause notice of it and of its availability for examination at the court to be given in such manner and to such parties as it deems reasonable. Any such party may apply to the court for a hearing on the account. If an application for such a hearing is not received by the court from a party in interest within the time stated in the notice, the periodic account will be filed without hearing thereon and without allowance or disallowance thereof, and shall not be recorded. At the end of each three-year period from the date of the last allowance of a periodic account, or upon the earlier receipt of a final account, there shall be a hearing on all periodic accounts not previously allowed, and the final account, if any, in accordance with sections 45a-178 and 45a-179.

(b) Each such periodic account shall include an inventory of the trust estate showing fully how the principal of the fund is invested and the items of income and expenditure. If there has been no change in the identity of the items comprising the principal of the fund since the last account which has been accepted and approved, it shall not be necessary to include an inventory of the trust estate.

(c) If the estate held by any person in any such fiduciary capacity is less than two thousand dollars, or, in the case of a corporate fiduciary under the supervision of the Banking Commissioner or any other fiduciary bonded by a surety company authorized to do business in this state, ten thousand dollars, such fiduciary shall not be required to render such account unless so ordered by the court.

(1949 Rev., S. 7052; 1961, P.A. 139; 1969, P.A. 209, S. 2; P.A. 77-430; 77-614, S. 161, 610; P.A. 80-476, S. 88; 80-482, S. 336, 348; P.A. 87-9, S. 2, 3; P.A. 99-84, S. 16; P.A. 03-84, S. 30.)

History: 1961 act specified that estates of less than $10,000 held by corporate fiduciaries under supervision of bank commissioner or by other fiduciaries bonded by surety companies authorized to do business in state are not subject to annual account requirement; 1969 act required that accounts be rendered “at least once during each three-year period” rather than annually; P.A. 77-430 authorized more frequent filing if required by will or trust instrument and added provisions re filing and hearing procedure for periodic accounts; P.A. 77-614 replaced bank commissioner with banking commissioner within the department of business regulation and made banking department a division within that department, effective January 1, 1979; P.A. 80-476 divided section into Subsecs. and rephrased provisions; P.A. 80-482 restored banking commissioner and division to prior independent status and abolished the department of business regulation; (Revisor’s note: Pursuant to P.A. 87-9 “banking commissioner” was changed editorially by the Revisors to “commissioner of banking”); Sec. 45-268 transferred to Sec. 45a-177 in 1991; P.A. 99-84 amended Subsec. (a) by deleting “under oath” and inserting “signed under penalty of false statement”; P.A. 03-84 changed “Commissioner of Banking” to “Banking Commissioner” in Subsec. (c), effective June 3, 2003.

Court has control of trust until approval of final account and trustee’s return of distribution. 92 C. 292. Final account precedes distribution; erroneous order of distribution by court does not justify trustee’s refusal to file final account; final account means an account substantially up to date. Id. History of statute; how far court has power to construe a trust. 93 C. 405. Objection to acceptance of final account is a proper method of raising question of right of trustee to account for property sold at inventory value instead of real value. 94 C. 373. Where there is a trust, there is no final distribution until trust is terminated and trust fund distributed. 98 C. 478. Implicit that final account must be filed. 121 C. 391. Decree of probate court, unappealed from, conclusive as to items within administration of estate. 126 C. 324. Cited. 131 C. 482. Statutory jurisdiction of a probate court over ordinary annual accounts of testamentary trustees is at least concurrent with that of the superior court as a court of equity. 147 C. 482. Cited. 148 C. 361; 155 C. 115, 120; Id., 417.

Cited. 12 CS 95.

Annotations to present section:

Cited. 45 CA 490.

Cited. 42 CS 548. Cited. 45 CS 368.

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