Legal Question in Wills and Trusts in Texas
Duties of a Trustee
Is the trustee of an estate allowed to invest funds and buy or sell real property of the trust? Is the trustee obligated to inform the beneficiaries of his actions? Can the beneficiaries legally demand an audit of the trust funds?
Asked on 11/10/00, 7:56 am
1 Answer from Attorneys
Re: Duties of a Trustee
The limitations of the trustee should be contained in the instrument creating the trust. You should be able to demand an accounting. Most of the trust I've come across contain accounting provisions, making the records available for inspection at regular intervals.
Answered on 11/19/00, 9:23 pm
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