Does a trustee have to provide me a copy of the trust and an accounting of trust assets and expenses? – North Carolina Short Answer Often, yes—at least to certain beneficiaries. In North Carolina, a trustee generally must keep qualified beneficiaries reasonably informed about the trust administration and, when appropriate, provide information that lets them…
What can I do if I’m the only beneficiary but the trustee still won’t release funds I’m requesting? – North Carolina Short Answer In North Carolina, being the only beneficiary does not automatically mean the trustee must approve every requested distribution. The trustee must follow the trust’s written terms and use any discretion in good…
How can I tell if the trustee is following the trust terms and acting in the beneficiary’s best interests? – North Carolina Short Answer In North Carolina, the most practical way to tell whether a trustee is following the trust terms and acting in the beneficiary’s best interests is to review the trust document and…
Can a trustee be required to pay for property maintenance or major repairs if the trust is supposed to cover those costs? – North Carolina Short Answer In North Carolina, a trustee generally should pay legitimate property maintenance and repair costs from trust assets when the trust terms authorize or require those expenses. A trustee…
What rights do I have as a trust beneficiary to get information and updates from the trustee? – North Carolina Short Answer In North Carolina, a trust beneficiary generally has the right to reasonable information about the trust and how the trustee is administering it, including updates and (in many situations) an accounting. The trustee…
Should my spouse and I use a joint trust, separate wills, or a different plan now that our children are adults? – North Carolina Short Answer In North Carolina, many married couples with adult children can use either (1) a joint revocable trust, (2) two separate revocable trusts, or (3) separate wills (often with “pour-over”…
What’s the difference between putting my home in a life estate versus a trust, and can my existing deed or paperwork be changed if it uses the wrong language? – North Carolina Short Answer In North Carolina, a life estate deed and a trust can both control who gets a home after death, but they…
What happens if my trust still names my former spouse or has outdated beneficiary terms? – North Carolina Short Answer In North Carolina, a divorce can automatically change how a will is read if it still names a former spouse, but that automatic rule does not reliably fix a trust, account beneficiary form, or power…
How can I get an extra distribution from a trust when the trustee refuses to approve it? – North Carolina Short Answer In North Carolina, an “extra” trust distribution usually depends on what the trust document authorizes and how much discretion it gives the trustee. If the trustee refuses, the typical path is to (1)…
How can I make sure my estate plan reflects my family situation and avoids confusion later? – North Carolina Short Answer In North Carolina, the best way to make an estate plan match a real-life family situation is to (1) clearly name the decision-makers and beneficiaries, (2) coordinate the will with how assets are titled…
