What should I do if a trustee will not provide trust information, an accounting, or release trust funds to the sole beneficiary when requested.
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What should I do if a trustee will not provide trust information, an accounting, or release trust funds to the sole beneficiary when requested.
I am the sole beneficiary of a trust created by my mother’s death and my sister is the
trustee. Per my mother’s will, my portion of her estate was placed in trust and was to
be paid to me on my 55th birthday 7 years ago. My sister said the value of the trust
is about 92,000 and gave me a distribution of 70,000 a year ago. She filed a 1041
and I received a schedule k back in April and had to pay additional taxes for
investment income. I have requested a copy of the trust instrument, end of year
statements for the last 3 years and a current account ledger. She refuses to even
communicate with me at all any more. I suspect she has mis appropriated my
remaining trust funds…….I am in Texas and she is in Colorado
Asked on July 5, 2016 under Estate Planning, Texas
Answers:
B.H.F., Member, Texas State Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
You need to file a petition for an accounting of the trust. You may have a potential claim for breach of fiduciary duty if she has not properly handled funds. You can try to do this on your own...but because it does require certain procedural requirements to perfect, I recommend that you hire counsel to assist you.
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