Hi

Thanks for this. Yes, the grantor is deceased. I have tried, as you suggest, to enquire how much is in the trust so we can all decide on the best course of action but the trustees are determined that we will not know so they retain control over deicions and we have to ask if we can do this or that and we have to basically assume all is well but don't know for how long. It may be that we are worrying totally unnecessarily and that there never was any worry over where they are educated and there is more than enough to 18 but it is so horrid to always worry and be told "you'd better cut out these activities and those and take a packed lunch instead of school lunch else there may not be enough" - the trustees want us to live frugally as they believe it is sensible but we feel it hard on kids when they can't do things their mates can and it is very stressful worrying and making changes for us. I think the intentions of the trustees are to basically get the most education for the least cost but we have to be able to get the children to schools within a certain radius, ones that suit them too and we should not need to worry every term that we might be told "oh dear, it's run out." The not knowing has made us want to turn down the trust and just manage our lives completely ourselves but then it seems a shame when the children are lucky to have the opportunities. Very difficult. I think for now I will liv with the condtions that are imposed every now and again and try to accommodate them all but if there is too much fuss over a school bill (we are often asked to try to get reduced fees if we can which is most embarrassing) then I will either walk away or I gues have the courage to ask outright what is available and demand to know. The intentions are good but I think we are old enough to make long term desision for our own children.

Yes difficult situation, and now you state the trust is revocable as opposed to irrevocable, that does in fact mean it could be changed or altered by the grantor(s) the Grandparents if still alive, but as you mention the will I assume they've deceased. ?

The best solution is to tak or write to whoever you believe is in charge of the trust, stating that you are not interested in being nosey, you are simply enquring and understandably only need the information to consider the longer term quality educational needs, welfare, stability and the overall happiness of the Children.

Hi

Firstly I must apologise for confusing but I have just read the will and the trust is revocable.

Thank you so much for the advice. It is very tricky because the trustees do not want us to know what is in the trust but they are (after we put our foot down because we were told to move the boys to a differntschool and after a term it just din't work and we said we had to move them back) allowing us now to keep the boys at the school in which they are happy. However, every bill is dissected and we are told there is not sufficient for the boys to have music lessons or an activity etc. and that we have to tell school they cannot participate. When we have said "thanks but this is too difficult, we'd rather not bother" then we are told "oh there is definitely enough, we want them to stay there, we can actually pay it" and we are now told that there should be enough to educate to 11 but not sure after that. If we knew what sums we were talking about, we might decide on a cheaper school for more years but we do not want to rip them out of where they are happy to save money to find that it was not necessary. As the trustees are paying the bills (after the stress of dissecting every bill with us) we do not like to rock he boat and strain relations with the children's relatives and with whom I enjoy (apart from this sujbect) a good relationship. For me to get a copy of the accounts, I would be saying "I don';t rtust what you are saying and am not satisfied just to know that for now there is enough to pay the bills" and that will cause trouble even though I think as the children's guardians we should (out of respect) have been told exactly what is available so we could make long term decisions. But, more than anything, I need to know whether, as guardians of beneficiaries, do we have a right to see th accounts or is this purely between what the trustees deem to be the right thig for the children and they can make the decisions and we have to either like what they've chosen or turn down the money and do it ourselves.

Under the law, trustees must act in accordance with the terms of the trust; act only in the best interests of the beneficiaries of the trust; invest wisely; not make any unauthorised profit; keep accounts and give the beneficiaries complete and truthful accounts.

As you are the legal Guardian of the Children and are responsible for looking after and representing the best interests of your Children until they reach adulthood, I think the law would only consider it fair and reasonable that you as the Parents were provided with the necessary information, so that the long term educational interests and welfare of the Children could be adequarely planned and managed, in order to comply with the priority and intentions of the trust fund and the main reason why it was set up in the first place, " Acting in the best interests of the Children".!

If a beneficiary has any concerns about the way the trustees are acting, the person should demand that the trustees provide an"accounting." An accounting is a statement prepared by the trustees showing how much property was originally put into the trust, how that money was invested or distributed, how much income the trust has earned and how that income has been used.

If trustees can not account for moneys they have held on trust or if they have used the money for improper purposes, then they may be legally required to repay any such money to the beneficiaries. It is possible to apply to the court for a new trustee to be appointed.

If a trustee fails to do these things, legal advice should be sought as it may be necessary to apply to the court to remedy the problem. You may need to seek legal advice in the applicable state of the US, if the trustees do not make this information available for some reason. But in the first instance contact the trustees, politely requesting them to disclose this information to you, informing them of the understandable reasons and the purposes for which you require to know these important details.

The problem is that there is a trust for educating our children. However, the trustees are telling us they can only go to this school or that school or cannot have school lunch etc. etc. and it is very difficult. As parents of these children, how can we decide which school we would like them a if we do not know how much (approx.) is in the trust? Basically, if there was enough to educate them in a cheaper school to 18, that would be preferable to a more expensive (poss better) school but the fund would only last until they were 9 or 10 say. It is an uncomfortable situation and the trustees are both family members who do not want us to know what is in the trust which is there for (and only for) educating OUR children. Do we have any rights (as parents of beneficiaries but not beneficiaries ourselves) to see the accounts for that trust or even the trust document itself? When we say we cannot make school decisions blind and that our children would at least have stability at a local school then it seems there is more than enough but when we think we'll send them to a certain school, we are told "that is too expensive". It is very difficult and given that they are our children I think we should know what is in the trust so we can choose the right level (financially) of school that will give them the best for the longest. I am not sure I even feel I could ask for account or the trust document but first I need to know whether we have a right to know what's in it or whether it is only the trustees that can know and can make decisions for OUR children in whch case it is rather at risk of manipulation into sending the kids to where the trustees want them to be, not where we want them.

The most important rule relating to the duties of a trustee is that requiring them to obey the directions in the trust deed both with regard to the interests of the beneficiaries (i.e. who is entitled to what) and with regard to the administration of the trust (managing the trust property).

You should contact the trustee(s) they will have precise instructions as to who is entitled to administer the trust and what information is to be released, they could be acting Solicitors or friends of your Parents, ask them who they have appointed as trustee(s).

PS - None of your private details are released for open viewing.

I do not know where to direct this but I believe there is a department that can answer money questions.

Basically, our children are beneficiaries of an irrevokable trust which has been set up in the USA by grandparents for their education. As the children are under 18, presumably they do not have a right to see the trust document and request accounts. However, do we as are parents of the children? Without an idea of how much is set aside, it is difficult to make educational decisions.

Mrs D

PS I assume these questions are not printed and I certainly would not want my email address or name to appear. Thanks!