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RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 36380
Experience:  Texas lawyer for 30 years in Estate law
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Does a beneficiary of a QSST have the same rights as a

Customer Question

Does a beneficiary of a QSST have the same rights as a shareholder of a coropration?
JA: Because laws vary from state to state, could you tell me what state is this in?
Customer: IL
JA: Have you talked to a lawyer yet?
Customer: Not yet.
JA: Anything else you think the lawyer should know?
Customer: We are a beneficiary of the QSST, which owns shares of a family owned corporation, S Corporation and are interested in receiving Tax Returns, financial statements.
JA: No. That's why I have to work. But I do love my work.
Customer: ?
JA: What confuses you?
Customer: my apologies.
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Estate Lawyer about your situation and then connect you two.
Submitted: 4 months ago.
Category: Estate Law
Expert:  RayAnswers replied 4 months ago.

Hi and welcome to JA. Ray here to help you today.

You can make demands of the trustee for such documents.If they are not forthcoming you will need a local trust lawyer to motion the court and seek a court order to produce them.Trusts are not like corporations in that normally there is not full transparency.You can through the courts seek full disclosure that would allow you to see if there are any misdeeds or missing funds.

The trustee is liable personally for any lost or missing funds and can also be removed as trustee as this is a breach of his fiduciary duties as well.

You can try a demand letter but you are looking at having a lawyer pursue this through the courts.

I appreciate the chance to help you today.Thanks again.

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