Know Your Rights as a Beneficiary of a Trust or Estate

Your Rights as a Beneficiary

• Right to receive inheritance as dictated by the estate or trust. One of the fundamental rights of beneficiaries is to receive their inheritance as stipulated in the estate or trust documents. Whether you are named in a will or designated as a beneficiary of a trust, the executor or trustee has a legal obligation to distribute assets according to the deceased’s wishes.

• Right to information. Beneficiaries are entitled to receive information regarding the estate or trust, including its contents, the management of assets, and the expected timeline for distributions. Trustees and executors have a fiduciary duty to keep beneficiaries informed and act in their best interests.
  
  In the case of a trust, beneficiaries often have the right to request a copy of the trust document. This allows them to understand the terms of their inheritance and any stipulations attached to it. For estates, wills typically become public record through the probate process, making them accessible to beneficiaries.

• Right to an accounting of assets, distributions, and expenses.Beneficiaries have the right to request a report with the following information:

  • A list of all assets and their values

  • Any income generated by trust assets

  • Expenses and debts paid by the estate

  • Distributions made to beneficiaries

  • Fees paid to the executor or trustee

  Depending on how long it takes to administer the estate, consider asking for several reports at a consistent interval.

What To Do If Your Rights Are Violated

If you believe that your rights as a beneficiary are being violated, here are several courses of action you can take:

• Request information in writing. Formally ask the executor or trustee for the necessary documents and updates.

• Consult an attorney. A legal professional specializing in estate or trust law can help enforce beneficiary rights.

• Petition the court. If a trustee or executor is failing in their duties, beneficiaries can petition the court for an accounting, removal of a fiduciary, or enforcement of distributions.