An accounting by a fiduciary usually involves an inventory of assets, debts, income, expenditures, and other items, which is submitted to a court. Such an accounting is used in various contexts, such as administration of a trust, estate, guardianship or conservatorship. Generally, a prior demand by an appropriate party for an accounting, and a refusal by the fiduciary to account, are conditions precedent to the bringing of an action for an accounting.
A sample letter to a trustee requesting an accounting with the beneficiary is a formal document written by a beneficiary asking the trustee to provide a detailed report on the financial transactions and status of the trust. This letter serves as a means for the beneficiary to assess the trust's administration and ensure that their interests are being properly managed. Here is an example of such a letter: [Your Name] [Your Address] [City, State, Zip Code] [Email Address] [Phone Number] [Date] [Trustee's Name] [Trustee's Address] [City, State, Zip Code] Subject: Request for Accounting and Financial Report of [Name of the Trust] Dear [Trustee's Name], I hope this letter finds you well. I am writing to kindly request a detailed accounting and financial report of the [Name of the Trust] of which I am a named beneficiary. As a beneficiary, I believe it is my right to be aware of the trust's financial activities and to have a clear understanding of its current status. To assist you in providing the necessary information, please find below a list of specific details and documents that would greatly assist me in comprehending the operations of the trust: 1. A complete breakdown of all income received by the trust, including sources, dates, and amounts. 2. An itemized list of all expenses incurred by the trust, including details, dates, and amounts. 3. A comprehensive summary of all assets held within the trust, specifying their current values and any changes in their worth over time. 4. A record of any transactions involving the trust, such as purchases, sales, transfers, or distributions, along with supporting documentation. 5. Bank statements, investment account statements, and any other relevant financial records pertaining to the trust. 6. Copies of all trust agreements, amendments, or any other legal documents related to its creation, modification, or administration. 7. Any tax returns, both state and federal, that have been filed on behalf of the trust. I kindly request that you provide this information within [give a reasonable timeframe] from the date of this letter. If any documents are missing or unavailable, please provide a detailed explanation regarding their absence. Confidentiality is of utmost importance to me, and I want to assure you that the information received will be treated with the utmost privacy and used solely for the purpose of gaining a better understanding of the trust's financial affairs. I am grateful for your attention to this matter and appreciate your prompt response. I firmly believe that this request is in line with my rights as a beneficiary, and I look forward to receiving the requested information. Should you have any questions or require further clarification, please do not hesitate to contact me. Thank you for your cooperation. Yours sincerely, [Your Name] Types of Sample Letters to Trustee Requesting Accounting with Beneficiary: 1. Sample letter to a trustee requesting an accounting for a living trust 2. Sample letter to a trustee requesting an accounting for an irrevocable trust 3. Sample letter to a trustee requesting an accounting for a charitable trust 4. Sample letter to a trustee requesting an accounting for a special needs trust 5. Sample letter to a trustee requesting an accounting for a testamentary trust.
