If I am trustee ofmy parent’sestate, do I have to give receipts and statements to my brothers who are listed in the Will?

Asked on November 7, 2011 under Estate Planning, Florida


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Was this trust created by the Will - meaning that your parent's have passed awayor are you trustee of your parent's estate while they are alive?  I do have to say that generally speaking, you as trustee are in the position of being held to a very high standard.  You are a fiduciary.  You should keep every receipt and copies of every bill.  You need to keep very, very, very good records for an accounting to be filed.  You must, as trustee, file an accounting every year to show the amounts spent and for what, etc.  And your siblings - who are either the actual or residual beneficiaries of the trust - should be able to access the information.  If you do not have help from an attorny or accountant please get it soon.  Good luck. 

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