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Fiduciary Deed for Use by Executors, Trustees, Trustors, Administrators and Other Fiduciaries Minnesota Form

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Fiduciary Deed for Use by Executors, Trustees, Trustors, Administrators and Other Fiduciaries Minnesota Form

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Hi. Lee Phillips here. I want to talk to you about the rights of beneficiaries of a trust. Now, you're going to set up your living revocable trust you, your spouse, you're going to be the primary beneficiaries and you don't have to do reporting for yourself, okay? You know what's going on. But when you die the trust will become irrevocable. Now, that might not be until both spouses have died or it could be partially when one or the other we don't need to get into that. But when the trust becomes irrevocable Then the trustee has an accounting issue Actually there are two issues there's an accounting issue and there's an information the duty to inform and the duty to account is what we say. The trustee has a a duty to the beneficiaries in fact the trustee's duties to the beneficiaries is one of the most strict duties--requirements--in the law. It's a big deal. It's called the "fiduciary duty&quot

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