Probate Code §§16060 – 16064, 15800, 15802 – 15805, and the specific provisions of the trust set forth a trustee’s duties to account and report information to trust beneficiaries. Depending on whether the trust is revocable, irrevocable or a testamentary trust, the duties of the trustee may vary. When a trustee makes an accounting, it must meet the requirements set forth in Probate Code §16063, which includes:

  • A statement of receipts and disbursement of principal and income
  • A statement of assets and liabilities
  • Information concerning the compensation of the trustee its agents
  • The relationship of the agents to the trustee
  • A statement that the recipient may petition for court review
  • A statement that claims against the trustee for breach of trust may not be made after 3 years from receipt of a report or account disclosing facts giving rise to the claim

A beneficiary of the trust can also request that the trustee provide an informal accounting. If the trustee refuses to provide an accounting, a beneficiary may seek a court order compelling an accounting. The beneficiary has the right to file a petition for an order compelling a trustee to report information and to account if (a) the trustee failed to submit a requested report within 60 days after a written request, or (b) no report or account has been made within 6 months preceding the written request. If a trustee has failed to comply with these timelines, a beneficiary can file a petition with the court seeking an order compelling the trustee to do so. Additionally, if the accounting or report provided by the trustee is incomplete, suspicious or otherwise unacceptable, a beneficiary can seek court assistance by filing an objection. If you are interested in pursuing a trust accounting, you don’t have to go through this alone. We will do most of the “heavy lifting” and maintain an open line of communication throughout the entire process. Are you ready to enter the fee agreement? Call today if you have any questions: (714) 963-7543.