Understanding Beneficiary Rights: Protecting Your Inheritance

Receiving an inheritance often brings a sense of comfort and financial security, but it can also lead to complex legal situations and family disputes. Understanding your rights as a beneficiary is crucial to ensuring you receive what you are entitled to.

We at Reiter Law Firm, PLLC, have over two decades of experience representing beneficiaries in South Dakota. We understand the sensitive nature of these situations and provide compassionate and knowledgeable legal counsel.

What Are Beneficiary Rights?

Beneficiary rights encompass a range of legal protections afforded to individuals named in a will or trust to inherit assets. These rights vary depending on the circumstances, but generally include:

• The right to receive a copy of the will or trust: Beneficiaries have the right to receive a copy of the will after the testator’s death or a copy of the trust. This allows them to understand their inheritance and any conditions attached to it.
• The right to information: Beneficiaries are entitled to information about the estate or trust, including an inventory of assets, accounting of expenses, and the personal representative’s or trustee’s actions.
• The right to fair treatment: Personal representatives (sometimes called executors) and trustees have a fiduciary duty to act in the best interests of the beneficiaries. This includes managing assets responsibly, avoiding conflicts of interest, and distributing inheritances or trust assets according to the will or trust terms.
• The right to contest a will or trust: If a beneficiary believes a will is invalid or a trust is invalid due to undue influence, fraud, or lack of capacity, they may have the right to contest it in court. Strict time limits are imposed on any such challenge.
• The right to take legal action: If a personal representative or trustee is not fulfilling their duties, beneficiaries have the right to take legal action to protect their interests. But beneficiaries must pursue such claims in a timely manner.

The laws governing beneficiary rights provide legal recourse if those rights are violated. We are well-versed in these laws and can help ensure that your inheritance or right to receive trust distributions is protected.

Common Questions About Beneficiary Rights

Understanding your rights as a beneficiary can be confusing. To provide clarity, we’ve answered some frequently asked questions about beneficiary rights and what to do if those rights are violated.

What are a beneficiary’s rights?

A beneficiary’s rights include the right to a copy of the will and usually the trust, the right to information about the estate or trust, the right to fair treatment, the right to contest a will or trust and the right to take legal action if necessary.

Can a trustee withhold money from a beneficiary?

A trustee can withhold money from a beneficiary under specific circumstances, such as when the trust document outlines conditions for distribution or if the beneficiary is a minor. Trustees cannot, however, withhold funds in certain circumstances or for personal gain.

What rights do beneficiaries of a trust have in South Dakota?

Trust beneficiaries in South Dakota have similar rights to those of a will, including the right to information, fair treatment and legal action if the trustee breaches their fiduciary duty. They may also have specific rights outlined in the trust document itself.

Secure Your Future: Consult With Us

For legal counsel concerning your rights as a beneficiary, call us at 605-800-8825 or complete our online form. We will advocate for your rights and help you secure your inheritance.