Trust Accounting: Am I Entitled as a Beneficiary?

beneficiariesWhen a person with a trust passes away, an appointed trustee takes over handling the deceased’s affairs, such as distribution of assets. The trustee has an obligation to do right by the beneficiaries by fulfilling the trustee’s role as the law requires. If you are a beneficiary in the state of California, you may not be aware that you have rights trustees must respond to. Here are some details about the most important rights you are entitled to regarding trusts.

1. The Right to a Copy of the Trust

Beneficiaries in California have the right to request a copy of the trust they are a part of. This includes amendments to the document, as well as any changes that could alter how the trust’s distributions are released.

Related Article: Advantages of Trusts for Estate Planning

2. The Right to Contest 

You also have the right to contest the trust and any changes to the trust. Contesting the trust will most likely litigation, and may complicate distributions.

3. The Right to be Informed

In California, you have the right to be informed about the trust and the trustee. Reports regarding the trust can be requested and must be given to beneficiaries.

4. The Right to Challenge a Trustee

If a trustee has given you reasonable doubt over their judgement or responsibilities with a trust, you are entitled to challenge the duties of that trustee.

Related Article: When Are Beneficiaries Entitled to Distributions?

5. The Right to Request an Accounting

Depending on the trust, you have the right as a beneficiary to ask for an accounting of the trust. If applicable to you, ask for an accounting to discover what receipts, disbursements, or distributions have been made by the trustee.

Do you have questions about trust accounting as a beneficiary?

If you need help, please contact us by filling out our Contact Form or by giving our office a call at +1(951)686-3608.

As the most experienced CPA in the Inland Empire who specializes in working with seniors, Marcia L. Campbell is committed to helping each client thrive by caring for their personal and financial wellbeing with genuine interest, well-established expertise, and a focus on respectful partnerships. Marcia’s team specializes in a number of services including elder & financial care, court & trust accountings as well as private fiduciary and tax services. At Marcia L. Campbell, CPA, we understand the importance of our clients’ individual needs and are committed to helping them make the best personal and financial decisions for their future.

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