Do you know who the potential remainder beneficiaries are?

Answer

Trust beneficiaries have significant rights. Identifying beneficiaries is often critical and somewhat surprising. The trustee is required to account to all current beneficiaries and to all reasonably ascertainable remainder beneficiaries. Therefore, the trustee must account to the beneficiaries who are named in or can be ascertained from the trust document, even if the beneficiary is an alternate beneficiary. For example, the trust may name Joe as the remainder beneficiary and if Joe dies prior to the termination of the trust, then Trudi is named as the alternate remainder beneficiary. The trustee must account to both Joe and Trudi.