As trust beneficiaries, do my bother & I have the right to ask for copies of the taxes prepared for the trust for last year?

I ask because we had requested and will be receiving soon an accounting from trustee that covers what we had not yet received - March 2010 through 2011. We are thinking that having a copy of the taxes would help us check the accounting we receive. This is for my father's estate - he passed in May 2009.

San Francisco, CA -

Attorney Answers (3)

Henry Daniel Lively

Henry Daniel Lively

Tax Lawyer - Costa Mesa, CA
Answered

You are required to receive an accounting and a K-1 for your distributive share. You should ask for a copy of the tax return, even if you do not have an absolute right to receive it. Most the time a trustee will provide it to you upon request.

Any individual seeking legal advice for their own situation should retain their own legal counsel as this response... more
Rabeh M. A. Soofi

Rabeh M. A. Soofi

Business Attorney - Los Angeles, CA
Answered

You should definitely consult with a probate litigation attorney. Trust beneficiaries generally have more rights than they realize. It all depends on the trust instrument. Sometimes, that will provide that the beneficiaries are entitled to statements of account, or perhaps additional information. If there has been mismanagement of the trust assets by the trustee, or the terms of the trust have not been followed, you could have an action for breach of trust. Please feel free to let me know if you would like a consultation. Best of luck, Rabeh

Please note - I am providing you with general comments, not legal advice. Nothing in this answer creates an... more
Christopher Michael Larson

Christopher Michael Larson

Tax Lawyer - Seattle, WA
Answered

It never hurts to get a real attorney involved to look over the situation. With the amounts at stake, it is like a form of insurance.

Christopher Larson
www.bellevue-tax-attorneys.com
www.insightlawfirm.wordpress.com

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