Who do stocks and funds in trust brokerage account belong to?

[Lonestar]

I think I know the answer but curious for community input...

Last Trustee of a Trust passed away, leaving stocks and cash in brokerage account in name of the Trust, with beneficiaries. Technically, terms of Trust are that beneficiaries split the assets of the Trust. Of course, that doesn't physically happen immediately (as far as distribution), but I guess that leads to my question. Even if the stocks and cash are still in the Trust account for say months, do they not belong to the beneficiaries upon Date of Death, and all income and potential tax consequences belong to the beneficiaries?
So, if death happened first week of January, then any income earned in the account would be attributed to the beneficiaries and not the Trust?
And since in those few days, the Trust did not earn $600, then there is no need to file taxes for the Trust? Or do I need to file one return to 'close to book' on the Trust?

Lastly, will the brokerage report any income as Trust income prior to distribution to beneficiaries, and if so, can it be 'corrected/changed' to be assigned to the beneficiaries? (assuming prior assumption is correct).

Thanks! 

[Anonymous_]

You probably need to consult with local legal counsel and/or a local tax professional.

However, the assets technically would belong to the trust in most instances and a return (1041) would be required to be filed if the trust had $600 or more of income or any taxable income.

See https://www.irs.gov/instructions/i1041#en_US_2022_publink1000285943

[Anonymous_]

The brokerage firm is going to issue a tax reporting statement (e.g., 1099-B) to the individual or entity listed on the account (along with the tax ID number of that individual or entity).