What are the rights of a co-trustee to an accounting, etc?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

What are the rights of a co-trustee to an accounting, etc?

There are 3 sibling beneficiaries to a trust that includes a house; 2 siblings are co-trustees; 1 of the trustee’s lives in the house and has been handling trustor’s finances for many years paying minimal rent. The trustor has passed away. What are the rights of the other trustee to an accounting of financing, access to house to start division of property process and enforcement of a fair rent?

Asked on March 1, 2013 under Estate Planning, California

Answers:

Catherine Blackburn / Blackburn Law Firm

Answered 11 years ago | Contributor

The co-trustee has rights and obligations equal to the other trustee.  This includes not only an accounting - an accounting is now due to all of the beneficiaries and not just the trustees - but all the trust administration procedures.  The trust document should state whether co-trustees must act jointly or can act independently.  If it does not state this, California trust law will say how co-trustees must act.

Both trustees are required to carry out the intentions of the trustor, not their own intentions.  Neither trustee may take actions that benefit them while harming other beneficiaries.  If the trustee who lives in the house does not share information and responsibility with you, he or she can be removed by a court.

If the trustee does not cooperate fully, you should consult a trust lawyer nearby to assist with this.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption