What informationabout estate assets is a beneficiary entitled to?

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What informationabout estate assets is a beneficiary entitled to?

My inheritance is dependent upon the liquidation or profit generation of a private business interest. The trustee has shared the terms of my inheritance, but will not share any info about the business interest. Am I entitled to this info or is it against his fiduciary responsibility to share this info?

Asked on September 5, 2011 under Estate Planning, Washington

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If you are the beneficiary under a trust, you are entitled to all information concerning the trust adminstration in progress as well as a copy of the trust and all addendums and supplements. If the business interest is an asset of the trust and your inheritance is dependent upon the financial status of this business asset, you are likewise entitled to all information concerning it from either the trustee or the attorney handling the trust's administration.

The trustee owes you a fiduciary duty to provide you with the requested information within a reasonable time after such has been requested. You need this information in any event to verify what you are ultimately entitled to in the end from the estate.

Good luck.

 


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