What information am I legally entitled to as a beneficiary of a trust/estate and custodial accounts in MD and/or PA?
Our trustees/custodians are relatives and are holding information about our accounts and will not give my siblings or I any information. I'm wondering what information I am legally entitled to (terms of the trust, amount in each of the accounts, when the money is released, etc.) and if I need to go by Pennsylvania or Maryland laws.
My siblings and I currently live in MD, but the trust and trustees are all in PA.
2 attorney answers
As a beneficiary you have the right to these things. The Court will at first give an executor time to marshal the estate assets and figure out what needs to be done. After that, if they are not providing you with answers, you can petition the court for an accounting of their activities and to get answers. The Will and an inventory of the estate are public documents which you have the right to see which may provide some answers as well.
The information provided is in response to a question. The answer provided does not create nor is it intended to create an attorney-client relationship. The answer is also provided given the facts presented by the questioner and as such should not be relied upon without first meeting with an attorney and providing additional information. You are advised to seek legal counsel prior to initiating any legal action.
Most trusts identify the law that governs them, and if the trust was created in PA then in all likelihood it will be governed by PA law. You will need to ask this question of a PA lawyer to determine your rights under PA law, but under MD law (which likely does not apply to you in this situation) a beneficiary has the right to receive a copy of the trust document, plus a statement of accounts and financial affairs of the trust. If anything improper or questionable is revealed, the beneficiary has recourse to the courts to address any improprieties and potentially remove and replace the trustee(s). Most states have trust statutes that provide similar rights, so re-ask this question and identify PA as the jurisdiction where you are seeking an answer.