Arizona trust law is clear on this. If you are a qualified beneficiary (a person who may receive from the trust), you have the right to see what the trustee is doing with trust assets. This is not a favor. It is your legal right under the Arizona Trust Code.
What the Law Requires
Under A.R.S. 14-10813, a trustee has two duties:
- Duty to inform. The trustee must keep you informed about how the trust is being run. They must share the key facts you need to protect your rights. This is an ongoing duty, not just when you ask
- Duty to report. The trustee must send money reports to those who get payouts at least once a year. They must also send one when the trust ends. These reports must show trust property, debts, income, spending, and trustee pay
In plain terms, the trustee should share trust info with you on a regular basis. You should not have to chase them for it.
What a Trust Accounting Should Include
A proper trust accounting covers a set time period. It should show:
- Assets held at the start and end of the period
- All income received, such as interest, dividends, rent, and sale proceeds
- All costs paid, such as legal fees, taxes, and upkeep
- Payouts made to those who receive from the trust, with amounts and dates
- Trustee pay and how it was figured
- Gains and losses on sales or investments
You should be able to trace every dollar in and every dollar out. Vague summaries are not enough.
How to Request a Copy of the Accounting
Start with a written request. Send a letter or email to the trustee. Ask for a full accounting for a set time period. Keep a copy of your request. In most cases, a polite but firm letter is enough to get what you need.
If the trustee ignores you or gives incomplete info, you can take it further. Under Arizona law, you can ask the court to order a full accounting. The court can make the trustee produce records. It may also hold the trustee liable for costs if the refusal was not fair.
What About a Revocable Trust While the Grantor Is Alive?
The rules work differently while the grantor (the person who made the trust) is alive. If the trust is still a revocable trust, the grantor usually controls what info goes out. You may not have the same right to ask for records while the grantor is alive and able to make choices. Once the grantor passes or the trust becomes locked (irrevocable), the trustee's full duties kick in.
When a Trustee Is Not Acting in the Best Interests of Beneficiaries
If you think the trustee is looking out for themselves, the accounting is your first defense. Watch for these red flags:
- Payments you cannot explain
- Trustee fees that seem too high
- Missing assets
- A trustee who will not talk to you
Arizona law gives you options beyond just forcing a report. Under A.R.S. 14-11001, you can ask to remove the trustee. You can seek to recover losses. You can even hold the trustee personally liable for harm caused by a breach of duty.
Protect Your Rights
As a beneficiary, you do not have to sit back and hope things are being handled well. Arizona law gives you the tools to check. If you are not getting the info you need, or if something feels off, it may be time to talk to an attorney who handles trust matters.
Your rights as a beneficiary matter. Use them.