Core duties · 6 min read
Information on a written request
SCPA 2102(1) provides that a proceeding may require a fiduciary to supply information concerning the assets or affairs of an estate — which for the SCPA includes a trust's property — when the fiduciary has failed to do so after a written request. The statute sets no day-count; it gives the beneficiary a route to the court.
Because the remedy turns on a written request, the record matters: the request, the date, and the answer. A trustee who keeps the trust's ledger current can answer most requests from it.
The annual statements
SCPA 2309(4) provides that the annual commissions SCPA 2309(2) allows may be retained by a trustee who furnishes, annually, a statement of the principal assets on hand as of a date no more than 30 days before the end of the trust year the trustee selects, and at least annually a statement of all receipts of income and principal, including the commissions retained and the basis on which they were computed.
The statements go to each beneficiary currently receiving income and to any other beneficiary interested in the income, and any person interested in the principal, who demands them. An income beneficiary who does not want them may say so in writing, which excuses the trustee as to that beneficiary until the beneficiary asks again (SCPA 2309(4)).
Settling an account
New York sets no annual account for every trustee. An account is settled informally: an instrument settling it, signed by everyone who would be cited in a judicial settlement, binds the persons they represent unless it provides otherwise (SCPA 315(8)). Or it is settled judicially, on the trustee's petition where a trust has been or is ready to be executed, or where the account has not been judicially settled within the preceding year and the court entertains the application (SCPA 2208(3)).
Process on a trustee's judicial account goes to the persons SCPA 2210 lists — among them every person entitled absolutely or contingently to share under the instrument or the law.
When the court requires an account
SCPA 2205 provides that the court may at any time, when it appears to be in the estate's best interests, order a fiduciary to file an intermediate or final account, on its own initiative or on the petition of a creditor, a person interested or the others the section lists, and may suspend a fiduciary who fails to account. Failing to account when ordered is also among the cases in which the court may act without process (SCPA 719).
An instrument's own accounting clause shapes the routine, and many instruments say more than the statute. Whether a particular clause excuses or adds to these rules is a reading of the instrument — a question for a licensed New York attorney.
The statutes, verbatim
Proceedings for relief against a fiduciary
SCPA 2102 ↗Clear, simple explanation; the verbatim statute text is not yet attested in our library. See the official statute via the link above.
Compulsory account and related relief on a court's own initiative or on petition; who may petition
SCPA 2205 ↗Clear, simple explanation; the verbatim statute text is not yet attested in our library. See the official statute via the link above.
Voluntary account; who may petition
SCPA 2208 ↗Clear, simple explanation; the verbatim statute text is not yet attested in our library. See the official statute via the link above.
Commissions of trustees, of donees of powers during minority and of donees of powers in trust under wills of persons dying, or lifetime trusts established, after August 31, 1956
SCPA 2309 ↗Clear, simple explanation; the verbatim statute text is not yet attested in our library. See the official statute via the link above.
Joinder and representation of persons interested in estates
SCPA 315 ↗Clear, simple explanation; the verbatim statute text is not yet attested in our library. See the official statute via the link above.
Common questions
Does a New York trustee have to keep beneficiaries informed?
No New York section states a general duty to inform. A beneficiary may ask in writing for information about the trust's assets or affairs, and if the request fails, a proceeding may require the trustee to supply it (SCPA 2102(1)).
Does a New York trustee have to account every year?
Not under a statute that applies to every trustee. A trustee who retains annual commissions furnishes the annual statements of SCPA 2309(4); the instrument may require more; and the court may order an account at any time when it is in the estate's best interests (SCPA 2205).
How is a New York trust account approved?
Informally, by an instrument settling the account signed by everyone who would be cited in a judicial settlement (SCPA 315(8)), or judicially, by the Surrogate's Court's decree on the trustee's petition (SCPA 2208) after the persons SCPA 2210 lists are served.
Related reading
The Learning Center is general information about New York law — not legal advice, and not a substitute for advice from a licensed New York attorney about your specific facts. TrusteeClear is software, not a law firm.
Frequently asked questions
- Does a New York trustee have to keep beneficiaries informed?
- No New York section states a general duty to inform. A beneficiary may ask in writing for information about the trust's assets or affairs, and if the request fails, a proceeding may require the trustee to supply it (SCPA 2102(1)).
- Does a New York trustee have to account every year?
- Not under a statute that applies to every trustee. A trustee who retains annual commissions furnishes the annual statements of SCPA 2309(4); the instrument may require more; and the court may order an account at any time when it is in the estate's best interests (SCPA 2205).
- How is a New York trust account approved?
- Informally, by an instrument settling the account signed by everyone who would be cited in a judicial settlement (SCPA 315(8)), or judicially, by the Surrogate's Court's decree on the trustee's petition (SCPA 2208) after the persons SCPA 2210 lists are served.
General information about New York law, not legal advice.