Attorneys frequently are asked questions by individuals who are beneficiaries of a trust. They want to know details about what they will inherit in some future, but aren’t sure if they can legally access the trust document to get this information.
Beneficiary Rights While Grantor Is Alive
When the creators of the trust, known as grantors, are still alive, beneficiaries do not have the right to view the trust document or receive any copies. This is because the law protects the grantor’s right to modify the trust as they see fit. As long as the grantor is alive, they have complete control over their trust, including who can see its contents. In essence, asking the grantor for a copy of the document is better than asking a lawyer, but there are interpersonal reasons why a person would shy away from doing so.
The situation changes after the grantors pass away. Under Nevada law, beneficiaries can request and are entitled to receive a copy of the parts of the trust that directly relate to their interests. This means you can get the sections of the trust that explain what you’re set to inherit. While you might see the entire document, you are not entitled to anything more than sections that name you.
Grantors have the flexibility to share their trust document with whoever they choose, including beneficiaries. They can also include specific language in the trust stating that all beneficiaries are entitled to a full copy of the trust instruments. This decision depends on the grantor’s preferences and how they believe such information will impact their family dynamics.
Tailoring Trusts to Family Needs
Grantors often tailor their trust to the specific needs and circumstances of their family. For some, it might make sense to ensure all beneficiaries have a copy of the trust. This transparency can be helpful in some family situations, whereas in others, it might lead to conflicts or issues among beneficiaries.
If you’re a beneficiary under a trust and are curious or concerned about your inheritance, it’s important to seek professional advice. Legal professionals at Clear Counsel Law Group can help you understand your rights and entitlements as a beneficiary, whether the grantors are alive or have passed away. If you have any documents or information about the trust, bringing them forward can help clarify your position and what options are available to you.