The Questions Every Beneficiary Must Ask

Estate Planning

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Being the beneficiary of a trust is exciting and, quite obviously, highly desirable. After all, everyone wants money. However, what most don’t know is that the beneficiary has more to deal with than simply benefiting. If a trust’s beneficiaries don’t actively participate and ask the right questions they risk losing out. They could fail to understand when they’re going to get their assets or worse, they could end up not getting all that they’re owed. To avoid this, there are certain questions that every beneficiary needs to ask in order to understand the specifics of their situation.

What to Ask

The first questions that any beneficiary should ask are about the nature of the trust itself. How will assets be disbursed and when? What kind of trust is it? Is there anything that the beneficiary must do to receive the assets? By asking these questions a beneficiary can start to get an idea of the nature of the trust. However, information is power and every beneficiary owes it to themself to ask more. Who are the trustees? Are there any investment advisers attached to the trust? Why did the grantor choose to create the trust? Are there conditions under which the trust could dissolve? By asking these kinds of questions beneficiaries can not only understand the trust but also verify that it’s working as it should.

What if there are Problems

If you’re a beneficiary then, as always, asking questions comes with the risk of getting answers you don’t like. If the trustees aren’t capable of carrying out their responsibilities, the trust itself is structured incorrectly or you encounter any other issues then you need an attorney. More than that, you need an attorney who is committed to every client and has a proven track record of successfully navigating the world of estate planning. You need Morgan Legal Group. We have the experience needed to defend your well-being and correct any issues your questions may uncover. It’s important to ask questions and protect your own interests, but we’re always here to help.

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DISCLAIMER: The information provided in this blog is for informational purposes only and should not be considered legal advice. The content of this blog may not reflect the most current legal developments. No attorney-client relationship is formed by reading this blog or contacting Morgan Legal Group.

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