Why Trust Accountings Matter: Ensuring Transparency in Trusts

Описание: Have you ever received a trust accounting and wondered what it means? Or perhaps you’re a trustee feeling lost about who needs an accounting and how to put one together.

In this video, we’ll explain why trust accountings are such a key part of ensuring transparency and fairness.

You’ll learn:
• What a trust accounting is and how it tracks assets from the time the settlor dies until distribution
• Who’s entitled to an accounting (and why “remainder beneficiaries” may not qualify)
• How often accountings need to be provided—and when beneficiaries can waive them to save time and money
• Key elements every accounting should have, including statements of receipts, disbursements, and liabilities
• Sample scenario to help you visualize exactly how an accounting works

If you’re a beneficiary, this guide will help you understand your rights. If you’re a trustee, it clarifies your responsibilities in the trust administration process. And if you would like help with the complicated trust administration process, schedule a consultation at cookmanlaw.com/talk-to-intake-team.

Want more insights on trust deadlines? Check out my “Trustee Deadlines” video next—see you there!


Timestamps:

00:00 - Intro
00:40 - What is a trust accounting?
01:17 - Who is entitled to a trust accounting?
02:10 - How often are you entitled to receive a trust accounting?
02:43 - Waiving a trust accounting
03:25 - What does a trust accounting contain?
04:44 - Example and explanation of a trust accounting
08:21 - How Cookman Law can help

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