Common use of TRUSTEE’S REPORTING RESPONSIBILITY Clause in Contracts

TRUSTEE’S REPORTING RESPONSIBILITY. The trustee shall report, at least every twelve months, to the beneficiary and his/her legal representative, if any, and to the next successor trustee, at the most recent address then known to the trustee. The trustee’s report shall advise of any change in the beneficiary’s eligibility for public benefit programs and shall list all of the receipts, disbursements, and distributions occurring during the reporting period, along with a complete list of the assets held by the trust. A copy of the most recent bank ac-count statement and a copy of the most recently filed trust tax return shall be attached to the accounting. The account shall be deemed to have been delivered when it has been placed in the United States Mail addressed to that person at the person’s last known address.