After the dust has settled, trust beneficiaries who may think they just won the lottery are sometimes surprised to discover that their position in the trust relationship may be less advantageous than they envisioned. Beneficiaries sometimes must take affirmative steps to enforce their rights and may find that their complaints regarding trust administration are determined not to be justified. Further, in some instances, a beneficiary may be required to account for and return distributions that should not have been made. We’ll address the following themes during this teleconference:

• The nature and timing of a beneficiary’s claims against a Trustee
• A beneficiary’s potential liability to the trust
• The IRS’ pursuit of a trust beneficiary for a tax liability
• A beneficiary’s standing to sue a third party who transacts business with the trust