David R. Hartwig, ESQ.
Attorney & Counselor At Law
Call Today! 801-833-0822

Do you know your rights as a trust beneficiary?

A trust is a legal document that allows a person, usually called a "grantor," to give their assets to another person or institution to manage, called the "trustee." The trustee holds the legal title for these assets on behalf of the beneficiary or person who is receiving the assets from the grantor.

Trustees have a fiduciary duty to administer the trust according to its terms. The trustee is responsible for collecting assets for the trust and making sure they are protected according to the trust's terms. They are also responsible for overseeing any investments, reporting and paying taxes and keeping a record of every transaction.

Specific state laws will dictate the legal action you can take a trust beneficiary. However, understanding your rights and what options may be available will help you protect your rights and make sure the trust is handled according to the grantor's terms and wishes.

Trust beneficiaries should be aware of their rights, which include:

  • The right to receive payments in accordance with the terms of the trust
  • The right to receive information about the trust and how they can enforce their rights
  • The right to an accounting of all income, expenses and distributions from the trust
  • The right to remove or replace the trustee if the trustee has violated their fiduciary duties

Beneficiaries can request the trustee to provide a special accounting of their management of the trust. If you suspect the trustee has violated his or her duties or is not following the terms of the trust, requesting a special accounting of the assets is one of the first steps to take.

Taking legal action

You have the right to pursue legal action if you believe the trustee has violated his or her duties or if the trustee fails to provide proper documentation of all activities managing the trust. Legal action can result in the removal and replacement of the trustee and help protect your rights as a beneficiary.

These cases are complicated and require an understanding of trusts and probate court. A probate attorney can help you better understand your rights and what legal options may be available if you need guidance or suspect the trust is not being managed properly.

No Comments

Leave a comment
Comment Information

Contact

Salt Lake City Office
1817 S. Main Street
Ste 17
Salt Lake City, UT 84115

Phone: 801-486-1715
Salt Lake City Law Office Map

South Jordan Office
10808 South River Front Parkway
Ste 3074
South Jordan, Utah 84095

Phone: 801-483-2541
Map & Directions