A beneficiary's guide to trust accountings.
If you're a beneficiary, you have a right to know what's happening with the trust. Here's how to ask for an accounting, how to read one, and what to do if it never comes — or doesn't add up.
Your right to information
As a beneficiary, you are generally entitled to information about the trust and, on request, to an accounting of how it has been handled. The trustee works for the beneficiaries — not the other way around — and has a duty to keep you reasonably informed and to account for what they've done with the assets. In California these duties live in Probate Code §16060–16062; in Florida, in Florida Statutes §736.0813. The exact triggers and timing vary, but the principle is consistent: you are owed transparency.
How to request an accounting
Start simple. Send the trustee a clear, polite request in writing — a letter or email is fine — naming the period you want covered (for example, the last calendar year, or the time since the trust was funded). Putting it in writing creates a record and sets a clear date. Many trustees comply once they're asked directly; an accounting is a normal part of the job, not an accusation. If the trust has an attorney, loop them in so everyone is working from the same request.
How to read one
When the accounting arrives, a few checks tell you a lot. First, confirm the summary balances — total charges should equal total credits, to the dollar. Then trace the detail: the receipts (money coming in), the disbursements (money going out), and the distributions (what was paid to beneficiaries). Look at how the trustee split principal and income, since that affects who gets what, and check whether asset values are shown at carry (original) value or current market value. If a term is unfamiliar, our explainers on principal vs. income and what a trust accounting is walk through the basics.
Red flags to watch for
A few patterns are worth a closer look: no accounting at all despite repeated written requests; unexplained or suspiciously round-number withdrawals; trust funds commingled with the trustee's personal accounts; missing periods or gaps where statements should be; and distributions that don't match what the trust document actually says should happen. None of these prove wrongdoing on their own — but together, or unexplained, they're a reason to ask harder questions and get the underlying records.
If it's refused or doesn't add up
If the trustee won't provide an accounting, or the one you get doesn't make sense, you have options — you don't have to take their word for it. A probate or trust attorney can formally compel an accounting through the court, and an independent reconstruction can show what actually happened with the assets, based on the bank and brokerage records rather than the trustee's summary. We prepare neutral, independent accountings built from the source documents — the kind that hold up when parties disagree and give everyone a shared, verifiable picture.
This is general information, not legal or tax advice. Your rights and deadlines depend on the trust instrument and the laws of your state; confirm specifics with your attorney.
Think something's off — or just want the truth?
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