Petition for Accounting of Trust

A Petition for Accounting of Trust is a legal document filed by beneficiaries or interested parties to request a detailed financial report from a trustee. Key aspects include:

1. Purpose: To ensure proper trust management and transparency

2. Contents:

   – Petitioner’s relationship to the trust

   – Reason for requesting the accounting

   – Specific time period for the requested information

3. Information sought:

   – Income and expenses

   – Assets and liabilities

   – Distributions made

   – Investments and their performance

4. Filed with the appropriate court overseeing trust matters

5. May lead to a court order requiring the trustee to provide the accounting

This petition is a tool for beneficiaries to exercise their right to information about trust administration. It can help detect mismanagement, fraud, or breach of fiduciary duty. Trustees should maintain accurate records to readily respond to such requests. For complex trusts or contentious situations, seeking legal advice is recommended for both petitioners and trustees.