Legal Question in Wills and Trusts in California
will the state of California audit an irrevocable trust? A bank was named as trustee of my brother's special needs trust. The bank provides monthly accounting statements but I want to know if the state will audit the Bank's management of the trust.
1 Answer from Attorneys
The State will not audit the Trust. If the Trust is Court supervised, then periodic accountings would be filed and approved by a Judge. However, whre a bank is acting as Trustee it usually means the Trust is not Court supervised and while the Bank may be required to do annual accountings, giving the accounting to your Special Needs brother is usually not a very good way to act as oversight for the Trustee's actions.
An attorney would need to see the actual trust to give specific legal advice as to what the Trust may require and who is entitled to review and/or object to the accounting.
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