Legal Question in Wills and Trusts in Texas

Heirs rights to financial documents

I had 2 aunts from Texas with living trusts recently pass away, leaving a substantial estate. They have no kids, no spouse, 1 survivng sister (also my aunt) . My cousin is trustee. Income is split between me, my cousins and a 3rd aunt until the third aunt passes, then the corpus is distributed equally to all cousins.

My understanding is the trust holds mainly securities that my cousin the trustee manages. Do I have a right to be apprised on an ongoing basis as to the value and specific holdings of the trusts? Do I have a right to see financial statements and trust documents? If so, should I have to request this information or should it be provided automatically? As an heir, do I have a right to trust financial statements from prior to my aunt's death? I asked my cousin what the holdings were and he wouldn't provide details, saying he didn't want me looking over his shoulder.


Asked on 1/05/08, 6:01 am

1 Answer from Attorneys
James Grissom Law Office of James P. Grissom

Re: Heirs rights to financial documents

As a beneficiary, you are entitled to an accounting of the trust. Send a certified letter to the trustee requesting an accounting and all documentation. If not forthcoming, sue trustee for accounting and he may be in breach of his fiduciary duty. Good Luck.

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Answered on 1/05/08, 12:56 pm


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