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  1. #1
    Join Date
    Mar 2007

    request for a trust accounting

    What is the name of your state? california

    I know that a beneficiary of a trust can ask for an accounting from the trustee of the trust. My question is would it be out of line to ask for a complete accounting from the time that items were put into the trust until the final accounting? I suspect that the trustee (also a beneficiary) used some of the trust assets for his own financial gain thorough out the years. If I only get a final accounting it will not show my supicions.

  2. #2
    Join Date
    Mar 2006
    If you actually had a right to an accounting through those years, then I'd say you would have the right to a full accounting. (Which is a technical term.)

    If you did not have the right to an accounting at an earlier time, but now have the right, I don't think you have the right to an accounting for that earlier time. We have a beneficiary in a trust we are trustee of who disagrees and we are in litigation right now regarding the question. If this is the situation you are in let me know and I'll let you know what at least one probate court in CA decides when they decide.

  3. #3
    Join Date
    Apr 2002
    California law provides you with the right for an accounting for each year the trust has been in existence. The trustee should have been sending you one each year.

  4. #4
    Join Date
    Mar 2006
    I think you are assuming too much of the facts as applied to the statute(s) of the probate code. The trust is required per 16061 to provide (except as provided in 16064) on reasonable request of the beneficiary a report of information about the assets, liabilities, receipts, and disbursements of the trust, the acts of the trustee, and the particulars relating to the administration of the trust relevant to the beneficiary's interest, including the terms of the trust.

    In 16064, the exceptions are if the trust instrument waives the report or accounting (Unless the waiver falls under 16062 or if it is reasonably likely there is a material breach of the trust and a court forces an accounting.), if the beneficiary is of a revocable trust during the time when the trust is still revocable and two others which would probably not apply. (Waiver of beneficiary or merger.)

    I don't believe the beneficiary is entitled to an accounting before the trust became irrevocable. I don't believe he is entitled to an accounting of things that do not affect his portion. Without further facts as to the composition of the trust and the beneficiaries rights under it, it is incorrect to say he has the right to an accounting for "each year the trust has been in existence."

  5. #5
    It sounds like a successor beneficiary is asking for an accounting before he had a vested interested in the trust. For the OP's information, the beneficiary of a grantor's trust (generally speaking) is the grantor. Those named as successor beneficiaries are only entitled to a trust accounting upon the death of the grantor(s), and the accounting only goes from that point forward.

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