Your rights as a trust beneficiary will depend on whether the trust is revocable or irrevocable. If the trust is revocable, it can be altered or rescinded at any time, which means the beneficiary has few rights at all. However, an irrevocable trust is very difficult to change and often requires a court order. In that case, there are a few common rights upon which the beneficiary may be able to rely.

Receipt of Payment
The beneficiary has the right to receive the payments, as they are detailed in the trust. This means the payments must be distributed in accordance with a prearranged schedule.

Right to Information
The beneficiary also has a right to information regarding the trust. Specifically, the beneficiary has the right to know how the trust will be executed and how its administration will affect them.

Right to Request an Accounting
An accounting is a report that details the income, expenses, and distributions of the funds in the trust. An accounting is usually submitted on a yearly basis. In addition to reviewing an accounting, the beneficiary may also be able to waive their right to an accounting.

Right to Remove the Trustee
The trustee is responsible for managing the trust and ensuring the beneficiaries receive their payments. If a beneficiary feels the trustee is failing in his or her duty, they can ask the court to remove the trustee.

The Right to Terminate the Trust
A trust may be terminated by court order through a petition submitted by the beneficiaries of the trust. However, all of the beneficiaries must agree and participate in the proceeding. Typically, the court will only agree to terminate the trust, when the purpose of the trust has been fulfilled. Alternatively, the trust may be terminated, if it can be shown that it would be impossible to satisfy the terms of the trust.

Whatever your needs, an estate planning attorney in Portland can help you make sure your final arrangements are settled to your specifications. An Portland probate attorney with the right expertise in probate law and estate planning, such as Kali Kali Yost Law, will help you make those arrangements and remain on hand to alter your wishes as needed. For help with any estate needs and to ensure your rights are protected, contact Kali Yost for an initial consultation.