When a Trust is being disbursed, will the beneficiaries receive a notice containing the names and amounts that go to each beneficiary?
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When a Trust is being disbursed, will the beneficiaries receive a notice containing the names and amounts that go to each beneficiary?
My parents’ Trust, both of whom are now deceased, states that the Trust is to be divided in equal
shares to their 4 children.
Asked on May 3, 2018 under Estate Planning, California
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
There is no legal requirement that each beneficiary receive notice of what the others receive; a beneficiary only has a right to information relating to what he or she receives, and in particular, has no right to information about the identities of other beneficiaries. It is possible that this trust (i.e. the documents creating it and setting the rules under which it operates) will provide this information, since it is legal to provide it--legal, but not required. So unless this trust (again, operating under the instructions setting it up) chooses to share this information, there is no inherent right to receive the information.
IF you think that you are being cheated, or the terms of the trust are not being followed, or the trustee(s) stole money or made negligent (careless) decisions which lost money from the trust, you *could* file a lawsuit for an "accounting" of the trust: to obtain information to confirm that the trust was handled properly and that you received what you should. In that lawsuit, you'd be able to see the information you want--but it would require a lawuit; that is the only way to obtain the information.
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