Legal Question in Wills and Trusts in California
Do I need a lawyer to respond to his Lawyer. He is a remainder beneficiary of a trust and is requesting an accounting. I managed it in the best interest of the settlor . During the life of the settlor trust accounting was never requested. I have already read a few articles that say I am not obligated to give an accounting. I would like to settle out of court what is left in the trust account. I did receive a debt due that belongs to the settlor and not sure if more will come about. How do I word that I reject his request for an accounting. ( grounds, california code)?
2 Answers from Attorneys
You definitely need an attorney. During the settlor's lifetime, the settlor is typically the only person entitled to an accounting of the trust. However, that right to an accounting passes onto the trust beneficiaries upon the settlor's death. This means, that if push comes to shove, you can be compelled to provide a full accounting for the trust.
I don't know what you are reading but it makes me nervous. When the settlor dies, the trust become irrevocable. Beneficiaries are entitled to an accounting and the fact that you want to object means you have something to hide. You need to talk to a lawyer in private as soon as possible.
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