How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Loren Your Own Question
Loren, Attorney
Category: Estate Law
Satisfied Customers: 33042
Experience:  30 years experience in the practice of estate law.
Type Your Estate Law Question Here...
Loren is online now
A new question is answered every 9 seconds

On July 31, 2013 I asked a question concerning my parents trust.

This answer was rated:

On July 31, 2013 I asked a question concerning my parents trust. The trustee has taken the position that since Mom is still living and resigned as trustee she is the sole beneficiary at this time. The trustee is the youngest child and feels that the other children have no beneficiary rights until the time when Mom dies. Is that correct or would the other 3 children be considered "qualified" beneficiaries? Thank you.
Thank you for using JustAnswer. I am JudgeLaw and I will do whatever I can to answer your question and provide you excellent service.

The term “beneficiary” refers to the universe of persons who have a beneficial interest in a trust as well as to any person who has a power of appointment over trust property in a capacity other than as trustee. It is immaterial for this purpose whether the beneficial interest is present or future, vested or contingent, or whether the person having the interest is ascertainable or even living.

So, yes, the children could be qualified beneficiaries.

Thank you.

Customer: replied 3 years ago.

How do we determine if we are qualified beneficiaries and, if so, would we be entitled to receive copies of the trust and annual accountings? How de we go about perfecting our rights?

You are not entitled to a copy of the trust unless your interest is vested and current.

Otherwise, you would need to sue the trustee.

Thank you.

Loren and 2 other Estate Law Specialists are ready to help you
Thank you for your positive rating of my service to you. Let me know if you need more help or have future questions. I will be here for you. Just ask for me by name at the start of your question - "JudgeLaw" or use the following link (which you can bookmark in your browser):

Best wishes and good luck to you.

If it is not too much trouble, Ben, when you receive a Customer Satisfaction Survey from JA/Pearl in a day or two, please do rate me highly (9 or 10). It affects my ability to continue to assist you and other customers on JA/Pearl and would be most appreciated.

Related Estate Law Questions