Asking Trustee For An Accounting

[Kinsella]

Hi,my grandmother died a couple years ago, my aunt is the trustee of the estate.  As beneficiaries are we allowed to ask her for an accounting of the estate, where she is spending the money, or how much money the estate has?  And if so, how do we do this?

Thank you!

ANSWER: Assuming that this is a California-based trust, you absolutely have the right to ask for(and receive) annual accountings.  In fact, you have the right to semi-annual accountings.

California Probate Code section 17200(b)(7) gives the beneficiaries the right to petition the probate court to compel the trustee to report information about the trust or account to the beneficiary, if(A) the trustee has failed to submit a requested report or account within 60 days after written request of the beneficiary and(B) no report or account has been made within six months preceding the request.

So as long as you request the account in writing and give the trustee at least 60 days to provide it AND as long as she hasn't provided an account to you within the last 6 months, you can take her into court to "force" her to provide an accounting.  You would do this by filing a Petition to Compel An Accounting in the probate court located in the county where your aunt(the trustee) resides.

Here's the relevant code section:http://law.justia.com/california/codes/prob/17200-17211.html

Hope this helps.

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.

---------- FOLLOW-UP ----------

Thank you for the information.  Where can i find information on how to write the letter.  Can we simply put in writing "we would like an accounting of the trust, a report of information about the assets, liabilities, receipts, and disbursements of the trust"?

My Aunt is very legal savy and she will do her best to counter any kind of correspondence.  I will try first to contact her without an attorney, if there is resistance we will need to get an attorney.

[Thatcher]

Yes, you can ask as simply as that.  If you want to let her know that you are also "savvy", you can add at the end "As you may know, California Probate Code section 17200(b)(7) gives us the right to this information every 6 months."

That way she'll know that you have done some checking.

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation