If I’m a vested beneficiary of an irrevocable bypass Trust, what are my rights?

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If I’m a vested beneficiary of an irrevocable bypass Trust, what are my rights?

My mother is trustee. I’ve had difficulty getting information, including being denied a copy of the trust document, for more than a year. I just received the document and a “report” of the initial funding of the A and B Trusts. Several significant assets, which I know for a fact were in the name of the trust, are not included in this report (they are not listed as residing in either trust). An asterisk on the report notes, “other marital property assets passed outright to your mother by joint tenancy or beneficiary designation.” How can I resolve this discrepancy and be sure that all of the assets in the living trust were properly placed in the AB Trust upon my father’s death?

Asked on December 9, 2013 under Estate Planning, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

Under the laws of all states in this country you as a vested beneficiary under the trust you have written about are entitled to a full and complete accounting of the trust's assets with full back up documentation. If your mother refuses to give you the accounting, you need to consult with a Wills and trust attorney about filing a petition with the court for an accounting. One in your locality can be found on attorneypages.com.


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