This link takes you to my YouTube Channel and the video “Trust Accounting – You Are Entitled To Ask For It”

Dear Stefanie:
    My brother began working on mother’s trust two years ago. I just received my first check. I don’t have a great relationship with him, so we haven’t discussed the Trust much. When I received my check, there was no accounting.  I feel out of the loop as to his actions.

– Sidelined on Stephens Dr.

Dear Sidelined on Stephens Dr.:

After a Trustmaker dies and the Trustee takes over, the Trustee must  provide beneficiaries an accounting of financial actions taken during the time he/she served as Trustee. Unless you waive the accounting, you have a right to understand what happened in your mom’s estate while he was in control.

When I represent Trustees, I feel more comfortable when my client provides an accounting to all beneficiaries. Not only does creating an accounting satisfy California law, but it also generally has the following effects:

  First, an accounting can put minds at ease. An accounting answers questions and leaves beneficiaries feeling less vulnerable. It cuts down on gossip, hard feelings and wild conspiracy theories.

Second, an accounting keeps the Trustee more honest. When clients know that they have to account for every cent from the get-go, they are much likely to track everything. You now should decide whether to request an accounting or let “sleeping dogs lie.”

In this video I talk about “Trust Accounting – You Are Entitled To Ask For It“.

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