A Trustee’s Duty To Account To Beneficiaries

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A beneficiary of a trust often wants to assure themselves that the trustee is handling the trust assets consistent with the term of the trust, and consistent with appropriate trust law and regulations.

A trustee has an obligation to render a clear and accurate accounting to a beneficiary each year covering his administration, showing receipts and disbursements, and showing a list of all trust property as of the end of the accounting period.

People establishing trusts need to take into account these trustee accounting obligations when selecting the trustee and successor trustee of the trust.

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Paul Rabalais
Estate Planning Attorney
www.RabalaisEstatePlanning.com