Ask for an accounting. If the trustee won’t provide it, seek a court order that forces them to share all information regarding the assets in the trust, including records of financial transactions and tax filings. You can hire an attorney to guide you through the process.
What is an Accounting?
An accounting is a detailed report of all income, expenses, and distributions from a trust. The trustee is required to provide this report annually and at the request of the beneficiaries. If the trustee does not provide the requested information or isn’t acting in the best interest of the beneficiaries, they may be held personally liable for any problems they create and can be removed from their role.
Learn more about the trustee’s role and get advice about what to do when a trustee abuses their authority. Contact a local estate planning attorney about beneficiary rights.
Harry S. Margolis practices elder law, estate, and special needs planning in Boston and Wellesley, Massachusetts. He is the founder of ElderLawAnswers.com and answers consumer questions about estate planning issues here and at AskHarry.info.