QUESTION
As a trustee of either a revocable or irrevocable trust
Asked on Jan 19th, 2019 on Estate Planning - Pennsylvania
More details to this question:
As trustee, do I have to notify beneficiary that they are entitled to all the trust proceeds when they are 21? I live in PA and it’s an irrevocable trust. Thanks
1 ANSWER
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As a trustee, you have a duty (called a fiduciary duty) to administer the trust funds for the benefit of the beneficiaries. You should read what the trust has to say about this question first but I'd suggest that even in the absence of specific direction in the trust, yes you should notify the beneficiary.
Answered on Jan 30th, 2019 at 11:33 AM