(

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 of

Part 5, the duty to account provided by subdivision (

a) applies to the trustee. (

d) Except as provided in

Section 16064, the duty of a trustee to account pursuant to former

Section 1120.1a of the Probate Code (as repealed by

Chapter of the Statutes of 1986), under a trust created by a will executed before July 1, 1977, which has been removed from continuing court jurisdiction pursuant to former

Section 1120.1a, continues to apply after July 1, 1987. The duty to account under former

Section 1120.1a may be satisfied by furnishing an account that satisfies the requirements of

Section 16063. (

e) Any limitation or waiver in a trust instrument of the obligation to account is against public policy and shall be void as to any sole trustee who is either of the following:

(1) A disqualified person as defined in former

Section 21350.5 (as repealed by

Chapter of the Statutes of 2010).

(2) Described in subdivision (

a) of

Section 21380, but not described in

Section 21382.