How to Obtain Financial Information About Trust Assets in California

Trust Financial Information

The Quick Answer: California Law Gives Beneficiaries the Right to Trust Accountings and Financial Disclosures—And You Can Enforce It Through the Probate Court.

As a trust beneficiary, you have the legal right to know how the trustee is managing the assets of the trust. Under California Probate Code §§16060–16064, trustees are required to keep beneficiaries reasonably informed, provide accountings, and respond to reasonable requests for information. If the trustee refuses, you can file a petition in probate court to compel disclosure or an accounting.

At Moravec, Varga & Mooney, we help beneficiaries assert their rights and compel reluctant or evasive trustees to provide complete and accurate financial records.

What Types of Financial Information Are You Entitled To?

If you are a current income or principal beneficiary, you are entitled to:

• Annual trust accountings

• A list of trust assets and liabilities

• Income and expense reports

• Information about distributions

• Notices of significant transactions, such as sales or transfers

• The trust document and any amendments

A trustee cannot legally withhold this information from you without good cause.

When Is an Accounting Required?

California Probate Code §16062 requires the trustee to provide an accounting at least annually, and:

• When the trust terminates

• When a trustee changes

• Upon the written request of a beneficiary

The accounting must include all receipts, disbursements, and assets, with clear dates and descriptions. It must be prepared according to legal standards, not just informal spreadsheets or summaries.

What If the Trustee Refuses?

If a trustee ignores your requests, you can:

1. Send a formal written demand under Probate Code §16060.

2. If there's no response within a reasonable time (usually 60 days), file a petition to compel accounting in probate court.

3. Ask the court to issue orders for:

   • Full accounting

   • Production of trust documents

   • Suspension or removal of the trustee (if misconduct is suspected)

Signs That a Trustee May Be Hiding Something

Be concerned if:

• You’ve received no accounting in over 12 months

• The trustee refuses to return calls or emails

• Distributions are delayed without explanation

• Trust property is being sold or transferred without your knowledge

• You receive vague, incomplete, or informal financial summaries

These red flags could signal mismanagement, self-dealing, or embezzlement.

How Our Firm Helps Beneficiaries

At Moravec, Varga & Mooney, we:

• Prepare and deliver formal demands for trust accountings

• File court petitions to compel trustee compliance

• Investigate asset transfers and property title issues

• Assist with trust litigation if financial abuse or mismanagement is discovered

• Work with forensic accountants when necessary

We also offer contingency representation in qualifying cases where beneficiaries cannot afford to pay upfront.

Don’t Stay in the Dark—Get the Financial Transparency You Deserve

If you're a trust beneficiary and feel shut out or ignored, you don’t have to accept silence. The law is on your side. Our team at Moravec, Varga & Mooney will help you uncover the truth and hold trustees accountable.

📞 Schedule a consultation today to enforce your right to trust financial information.