irrevocable trusts

[calhawger]

My sister and I supposedly have irrevocable trusts in our names which were established by our mother and step-father when we were minors. Due to our mother becoming feeble and our step-father antagonistic over the years, we want to find out exactly what, when etc. about the trusts without his knowledge.Is there some kind of confidentiality arrangement with the trustees that would enable us to find out the details without his knowing? We have only the name of the trustee (financial adviser I think or something like that).

 

[ALawyer]

If it is truly an irrevocable trust then nothing can be done by the step-father to take away the money or property already in it.

The terms of the trust determine when you get the assets of or income from the trust, and what the trustee can do in terms of providing you information about the trust.

But USUALLY (unless you are young) you'd be getting some distributions each year as most trusts distribute some of their earned income to the trust beneficiaries, and unless the trust holds things like undeveloped real estate they usuallygenerate income.