What Is a Notice to Beneficiary?


Quick Answer

A notice to beneficiary informs heirs that a representative has been left in charge of a living trust after the person who created the trust has died, according to Nolo. Some states require that the notice uses specific wording while others accept a simple wording in the successor trustee’s words.

Continue Reading
Related Videos

Full Answer

The notice lets the beneficiaries know that the terms of the living trust are irrevocable, states Nolo. The notice also confirms the identity of the successor trustee and clarifies that the new trustee plans to distribute the trust assets as soon as possible. The trustee should state the date when the beneficiaries expect to receive the trust funds. Several states require the trustee to notify beneficiaries within a specific period. Most states recommend that the notice reaches the beneficiaries between 30 and 60 days.

Learn more about Financial Planning

Related Questions