Q: In CA, may I request an accounting of the family trust if I'm named and have standing?
My deceased parents were the Grantors & stepmother is the trustee. I've requested an accounting in writing but she refuses to say anything other than "the trust has grown". I have checked with county offices and she has gotten a loan using trust property as collateral. I'm concerned the loan repayment will fall to my family if she hasn't cleared the title.
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A:
Under California law, you have the right to request an accounting of a family trust if you are named as a beneficiary and have standing. If your deceased parents named you as a beneficiary, you are entitled to receive information about the trust's assets, liabilities, income, and expenses. Your stepmother, as the trustee, has a legal obligation to provide this information upon your reasonable request.
Since you have already made a written request for an accounting and your stepmother has not provided sufficient information, you may want to consider taking legal action to compel her to comply. You can file a petition with the court to request an accounting and seek assistance in ensuring that the trust assets are being properly managed and the loan repayment, if applicable, is in accordance with the trust terms. It's advisable to consult with an attorney experienced in trust and estate matters to guide you through this process.
Keep in mind that it's crucial to protect your rights and interests as a beneficiary, and seeking a court's intervention may be necessary if your stepmother continues to refuse to provide the necessary information regarding the trust.
Nina Whitehurst agrees with this answer
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