MARVIN MANDEL, Governor                               115

(D) THE DATE OF EACH PURCHASE, SALE, LEASE,
TRANSFER, COMPROMISE, SETTLEMENT, DISBURSEMENT, OR
DISTRIBUTION OF ASSETS SINCE THE LAST ACCOUNT, A
DESCRIPTION OF EACH SUCH TRANSACTION, AND A STATEMENT OF
THE AMOUNT BY WHICH IT AFFECTS THE AMOUNTS REFERRED TO IN
PARAGRAPHS (A), (B), AND (C); AND

(E) THE VALUE OF ANY ASSETS REMAINING IN THE HANDS
OF THE PERSONAL REPRESENTATIVE.

REVISOR'S NOTE: This section presently appears as
Art. 93, §7-303, The only changes are in
style.

7-304. EXPENSES AND INCOME DURING ADMINISTRATION.
(A) EXPENSES.

UNLESS THE WILL PROVIDES OTHERWISE, AND SUBJECT TO
SUBSECTION (B), ALL EXPENSES INCURRED IN CONNECTION WITH
THE SETTLEMENT OF AN ESTATE OF A DECEDENT, INCLUDING
DEBTS, FUNERAL EXPENSES, THE CONTRIBUTION OF THE ESTATE
TO ESTATE TAXES, AND INTEREST AND PENALTIES CONCERNING
ESTATE TAXES, FAMILY ALLOWANCES, COMPENSATION OF
ATTORNEYS AND PERSONAL REPRESENTATIVES, AND COURT COSTS
SHALL BE CHARGED AGAINST THE PRINCIPAL OF THE ESTATE.

(B) INCOME.

UNLESS THE WILL PROVIDES OTHERWISE, INCOME FROM THE
ASSETS OF AN ESTATE OF A DECEDENT AFTER THE DEATH OF THE
TESTATOR AND BEFORE DISTRIBUTION, INCLUDING INCOME FROM
PROPERTY USED TO DISCHARGE LIABILITIES, SHALL BE
DETERMINED IN ACCORDANCE WITH THE RULES APPLICABLE TO A
TRUSTEE UNDER SUBTITLE 2 OF TITLE 14 OF THIS ARTICLE AND
SHALL BE DISTRIBUTED AS FOLLOWS:

(1) TO SPECIFIC LEGATEES, THE INCOME FROM THE
PROPERTY TO WHICH THEY ARE ENTITLED, LESS TAXES, ORDINARY
REPAIRS, AND OTHER EXPENSES OF MANAGEMENT AND OPERATION
RELATING TO THE PROPERTY, AND AN APPROPRIATE PORTION OF
INTEREST ACCRUED SINCE THE DEATH OF THE DECEDENT, AND OF
TAXES IMPOSED ON INCOME EXCLUDING TAXES ON CAPITAL GAINS,
WHICH ACCRUE DURING THE PERIOD OF ADMINISTRATION, IN THE
EVENT THAT THE INCOME FROM THE PROPERTY TO WHICH THE
SPECIFIC LEGATEE IS ENTITLED IS NOT SUFFICIENT TO PAY THE
TAXES, ORDINARY REPAIRS, AND OTHER EXPENSES OF MANAGEMENT
AND OPERATION RELATING TO THE PROPERTY, OR IF THERE IS NO
INCOME, THEN EXPENSES IN EXCESS OF INCOME SHALL BE
CHARGED TO AND PAID BY THE SPECIFIC LEGATEE IMMEDIATELY
UPON WRITTEN DEMAND OF THE PERSONAL REPRESENTATIVE, OR AT
THE OPTION OF THE SPECIFIC LEGATEE, CHARGED AGAINST A
SHARE OF THE ESTATE TO WHICH THE LEGATEE MAY BE ENTITLED.
IF THE SPECIFIC LEGATEE SHALL FAIL TO MAKE PAYMENT TO THE