Trustee's Duties

• The trustee has a duty to manage the trust's assets in the beneficiaries' best interests. This means distributing the assets to beneficiaries as set forth in the trust, avoiding risky investments and treating all beneficiaries impartially.
  
  

Financial Statements

• Beneficiaries are entitled to receive a financial accounting of the trust, including bank statements, regularly. When statements are not received as requested, a beneficiary must submit a written demand to the trustee. If records are received, but the beneficiary is concerned with the trustee's actions or questions the disbursements and receipts on the bank statement, he can seek court intervention. The court will review the trust account for any discrepancies or irregular activity.
  
  

Penalties

• When a trustee fails to provide requested bank statements, he may be removed from his position. Additionally, if, after court review, it is determined that a trustee abused his position and misused the trust's assets, he will also be liable for any monetary damages owed to the beneficiaries.