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Notice of Trustee's Final Report and Account, Applications Form

Notice of Trustee's Final Report and Account, Applications Form

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if you ever review a trust or draft a trust you may be familiar with a clause that requires trustees to report possibly annually to the trust beneficiaries things like an inventory an accounting of trust income and even other documents relating to the trust and reports relating there too increasingly trustees are pushing back on this requirement so the question is is that required in a trust now under the uniform trust code that duty has been standardized but it's also been relaxed in some cases the trust can waive it but the trust can never waive a beneficiary's basic right to at least receive information after a reasonable request similarly a trustee can request that a beneficiary waive this um this reporting obligation but the beneficiary is typically free to terminate that waiver at will and beneficiaries should technically be advised before doing so now we're going to talk about uniform rules but state law considerations can change this duty and waive abili

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