A matter of trust
I HAVE been left some money in a trust. I have reasons to believe the money is not being invested properly but when I have broached the subject with the trustees, they have disagreed. What can I do?AS THE beneficiary under a trust, you are, by law, entitled to require the trustees to allow you to inspect paperwork and documents concerning the trust. This is because those documents are part of the trust property.
However, the trustees could justifiably refuse to permit the beneficiary to inspect a particular document if this showed the reason why the trustees actually reached a particular decision. This is to protect matters properly within the trustees' discretion.
The trustees are obliged to keep accurate trust accounts showing the financial position of the trust and, as a beneficiary, you have the right to inspect these.
If the trustees refuse to let you see information you are entitled to, then, as the beneficiary, you would be able to take the trustees to court to require them to produce the information. Source: Robertson Double Solicitors Send your questions to Sunday Money, 5/F 1 Tong Chong Street, Quarry Bay, or fax to 565 1423