Yes, if you are named in a trust as a beneficiary then you are entitled to a copy of the trust and an accounting annually of the entire estate.
A lot of people keep their estate plan private for a multitude of reasons. However, when someone dies and you have been named as a beneficiary you may want to know your rights. Whether, the trustee of the trust likes it or not they have to comply with the law by providing you with a copy of the trust and an accounting of the estate. The trustee has a legal obligation to the beneficiaries to comply those requirements.
The easiest way to get the answers you are looking for is to be open with the trustee and request the information; however, but if your relationship with the trustee is contentious, and he or she is refusing to provide the requested information, your last resort is to file a lawsuit against the trustee for breaching his or her fiduciary duties.
Depending on how much money is involved, I would try to resolve the issue without the involvement of attorneys. It may not be financially reasonable, however, if you are looking to protect your interests litigation may be the only way. The first step an attorney may take is to send a letter to the trustee, or the trustee’s attorney, requesting a copy of the trust and an accounting of the trust assets. If that doesn’t get you anywhere, your attorney may advise you to file a lawsuit so that you can get an order from a judge ordering the trustee to provide you the trust and accounting.
03/04/2019 | Illinois