Trustee Accountability In Washington

Summary

Trustees in Washington must provide annual accountings to beneficiaries, including an itemized list of trust property, receipts, disbursements, and liabilities. If you suspect mismanagement, consult an attorney. Trustees must act in the best interest of beneficiaries at all times, not just during annual reports. Seek legal recourse if denied information.

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I am one of several beneficiaries of my grandparents trust. How do you know if the person in charge of the trust is taking what isn't theirs? The real estate is being leased ,what happens to that income? Some of the personal property is missing how do you know what is being taken. Can I get a itemized list and what stops the person from living off the trust or waisting the money?
Hello ****,
*. Trustees are obligated to provide a detailed account of the trust's assets and expenses.
*. Any income, like from leasing real estate, should go back into the trust.
*. If you suspect misuse, you may want to consult with a lawyer or request an audit.
Could you inform me of your location? Laws can vary by region.
Mesa ,Washington we are only allowed to speak with her lawyer and if we cause any legal issues we will be removed from trust. When are trustees obligated to provide detailed account?
In Washington, trustees have a legal obligation to provide annual accountings to beneficiaries, including:
- An itemized list of trust property.
- Receipts and disbursements of principal and income.
- Trust liabilities.
If you're denied this information, you can seek legal recourse. Consult an attorney for detailed guidance.
So basically the trustee has a year to waste as much of the trust as possible before giving details
In theory, a trustee must act in the best interest of the beneficiaries at all times, not just during the annual report. If you suspect fraud or mismanagement, you can seek legal action. Consult with an attorney for further advice.