738.804 Application.—Except as provided in the terms of the trust or this chapter, this chapter shall apply to any receipt or expense received or incurred and any disbursement made after January 1, 2025, by any trust or estate, whether established before or after January 1, 2025, and whether the asset involved was acquired by the trustee or personal representative before or after January 1, 2025. Receipts or expenses received or incurred and disbursements made before January 1, 2025, must be governed by the law of this state in effect at the time of the event, except as otherwise expressly provided in the terms of the trust or in this chapter.
