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How do I get copies of all financial reports from trustees? They do not want to make them available.
Anonymous4 views3 answers
This is a 4 unit condominium in which two owners are trustees. In a meeting, with only 3 of us, me and two trustees, in which I had requested the meeting months prior but they did not hold the meeting for a few months later. I had given a few months notice that I wanted to have available for me to make copies of all records, contracts with landscapers, etc , bank statements, rules and regulations that the trustees had changed a year ago (they never had notorized and filed with courts to this day) and the one trustee told me if I wanted to see bank statements etc to summons them. The meeting was held in one of the trustees units (both live here), because I had interupted one of the trustees, she told me to get out of her unit cause I interupted her. Important info needs attention
Ivette M SantaellaEstate Planning AttorneySan Ramon, CA ·
Hello,
As the beneficiary of the trust you have the right to obtain an accounting regarding the handling of the assets of the trust.
If the trustees will not comply after you have provided timely written notice, you should consider going to court to get an order to compel the trustees to produce the accounting. You may need the assistance of an attorney.
and the MA State Bar can provide attorney referrals.
It sounds like you are a beneficiary to the trust. As such, you have many rights and the Trustee's must provide you with the information that you are requesting. I would suggest that you first write a demand letter requesting what you want. Send the letter certified mail, return receipt requested and provide a date certain by which they are required to respond. In your letter, make it clear that you will seek legal assistance if you do not receive a timely response. If you get what you want, then you are all set. If you don't, find a trust/litigation attorney and take the next steps which could be to remove the trustees, or just sue them for breach of fiduciary duty. Good luck!
The trustees are right, here. They are required to keep books and make them available to you, but absent a court order for good reason they aren't required to provide the supporting documentation. Copying all invoices, etc. is a time consuming process, with the time taken billable to the trust, and trustees have a reasonable interest in not wasting that time. Given that you seem to be at odds with them, they have ample reason not to want to trust you with the originals to make copies yourself. If it really is a trust, you can request that the Probate and Family court order them to provide the documentation. That said, it seems more likely that you have a co-op or condo; and significantly different rules and reporting requirements apply in that ca
