Is trust beneficiary entitled to copy of mom's tax returns?


Someone who is named as a beneficiary under a trust is only entitled to a financial accounting once they actually become a present beneficiary, such as mom passing away.


Attorney Tom Olsen: Diane you are in News 96.

Diane: Hi, I just took check from estate. Our mother passed in April 2017 and I just began estate planning with this inheritance and I have a great CPA and he is saying that he would like to see the 1041 from the past years but my trust attorney in California is saying that, and my sister the trustee are saying that I'm only entitled to the 1041 since I only became beneficiary since my mother's death in April 2017. And my CPA is taking issue with that indirectly.

Attorney Tom Olsen: And why did your CPA want to see the 1014 for your mom, while she was alive?

Diane: Well, I think we want to know whether or not there's an issue with. I thought-

Attorney Tom Olsen: Okay, so Elaine you can't give me a good reason then you guys might be suspicious. Elaine while your mom was alive she was the only one in entitled to financial information about her estate and her trust. You as a beneficiary of your mom's trust have no right to receive any information about your mom's estate or her trust until your mom has passed away. Your CPA out of curiosity is asking for 1014s for your mom prior to her death, I would say that you guys are not entitled to them unless I'm missing something Diane.