Accounting for profit and loss No profit shall be made by a fiduciary by the increase nor shall he sustain any loss by the decrease or lo... · as in force on May 31, 2026
§ 2212. Accounting for profit and loss
No profit shall be made by a fiduciary by the increase nor shall he sustain any loss by the decrease or loss without his fault of any part of the estate, but he shall be charged with the increase and credited for the decrease or loss on the settlement of his accounts.
A fiduciary may not profit from an increase in the estate's value, and does not bear a loss from a decrease or loss that was not their fault. ★ When the account is settled, the fiduciary is charged with every increase and credited for every decrease or loss that occurred without their fault: gains and blameless losses belong to the estate, not to the fiduciary.
Marked in the text: penalties, time limits, sums of money. Editorial emphasis added by this edition; it does not appear in the statute as enacted.
This provision appears in Volume 1 — The Surrogate's Court in Plain English; Volume 2 — The Surrogate's Court Procedure Act; Volume 5 — Your Career: Surrogate's Court in Plain English.