Introduction

As a trust beneficiary, one might think that they are at the mercy of the Trustee, but beneficiaries have the right to make sure that the trust is being properly managed depending on the type of trust. If a person is a beneficiary of a trust, is he or she entitled to an accounting of the trust’s assets and the activities of the Trustee? The answer to this question is yes. The trustees are entitled to furnish beneficiaries with copies of the trust.

Trustees must disclose to beneficiaries certain information about the trust they are beneficiaries. However, in some cases, trustees are reluctant to disclose certain information about the trust, or beneficiaries are unclear about what they are entitled to see. Today, we understand how a probate attorney works with beneficiaries’ trust information rights.

Probate Attorney work with Beneficiaries Rights to Trust Information

The beneficiary is entitled to receive information on whether the successor trustee is managing the trust efficiently or not. The probate court has given the right to the beneficiary to protect the assets. Those are bequeathed to him or her by the settlor or grantor. However, the beneficiary needs to understand that there are timeframes that the Trustee needs to adhere to. So, it can ensure they keep on the court’s right side. The beneficiary needs to stay updated on the progress of the Trust administration process. The Trustee gets sufficient time to equip him or her with the information being asked for. 

The beneficiary should understand that the Trustee is eligible to settle the estate. They utilize attorneys, appraisers, and other expert opinions to assist in resolving the estate so that it can ensure that there is no breach of their fiduciary duty.  

Is the beneficiary entitled to a copy of the trust?

“It depends” whether there is entitlement to the beneficiary to a copy or not of the trust. If the creator of the trust is alive, the living trust, also known as ‘revocable,’ and the trustor. There is no legal foundation to show trust to the beneficiary. The trustor has the power to eliminate the trust at any time while he or she is alive. 

Is trust a Public record?

No, trust cannot display publically. Thus, it is why almost all guarantors choose trust instead of a will. 

The trust becomes an irrevocable record of the Trustee’s death or the settlor. In simple words, no one can alter trust. If an individual is a beneficiary of a trust, then it is at this point that the same person has statutory rights as a beneficiary right. If a person is a trustee, they will inform the beneficiary of the trust and how one manages the asset..  

How does Probate Attorney follow up on the beneficiary’s right to the trust information?

First, a beneficiary must have sufficient knowledge about his or her rights. You can contact a probate attorney if the beneficiary needs counseling due to a lack of transparency from the Trustee. In some states, the Trustee allotted after 60 days the death of the settler or trustor with a real copy of the trust documents and the amendments. 

The best way a beneficiary can use the right to trust information is by staying at the front of the curve by sending an email or letter that he is aware of and thus wants to access the true copy of the trust documents. However, if the beneficiary receives no copy of the trust document, he or she has the right to appoint a probate lawyer and seek a petition with the court to receive the copy. 

What can a beneficiary expect from the Trustee initially?

Here mentioned are some early expectations that the beneficiary can expect to receive:

• Trustees to contact all beneficiaries or heirs in the initial stages.
• Educate the beneficiaries or heirs about their role as specified in the will.
• Trustees help the beneficiaries determine the expectations according to the trust’s assets.
• Trustees have already accounted for the assets and also controlled them before distributing the trust assets to the beneficiaries or heirs. 

Conclusion

The Trustee must report and account to the beneficiaries of the trust. If a person is a trust beneficiary, he or she has the right to information about the trust. Moreover, there is a right to know the interest in the trust, the different assets of the trust, and how one administers the trust. Suppose the Trustee fails or refuses to update the beneficiary about these basic details about the trust. Then the beneficiary can seek the probate lawyer’s help to enforce the rights through the action of the court requiring the Trustee to account.