In the state of New Jersey does the trustee of an irrevobable family trust have to give the beneficaries a account of the trust to each beni...

Question

In the state of New Jersey does the trustee of an irrevobable family trust have to give the beneficaries a account of the trust to each benificery

Answer

The answer depends on what the tust actually says, but in general, yes, the turstee has a duty to account.

Answer

I agree with Jon that the language of the document creating the trust controls. Sometimes an accounting is waived and sometimes it is required. It also depends upon what type of beneficiary it is, as there are several types: current or deferred (e.g., skip generation beneficiary), income only or full distribution, mandatory or discretionary, etc. and this could change an answer. Not having read the creation document, not more than a general response can be given. If you could provide me with a copy of the document, a more specific response can be provided. This is a response to an Internet question and the reply is not intended to be legal advice or as creating an attorney-client relationship.

Answer

If you are a beneficiary, you are entitled to information about the trust. If there is something fraudulent or illegal going on, then you will definitely want to pursue it.

Give me a call, make an appointment to come see me, and let's get moving on this for you. No charge for the first office visit.

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Please keep in mind that my response is just a general comment on your question, and not legal advice. Your question and any response does NOT create an attorney-client relationship between you and this law firm. The exact details of your situation and things that you have not mentioned in your question can completely change the response I gave. You can not rely upon what I have written, because I do not have all of the information that I need to advise you, I only have the very small amount of information that you put into your question. To get legal advice that you can rely on and use, please contact me directly. I would be happy to assist you.