It is the legal duty of the executor to keep the beneficiaries informed about how the assets of the trust are being managed. They need to be informed about all the important and latest information so that they can protect their rights. Know how to write letters to beneficiaries which passes on all the essential information.
Use the example given below to draft formal and informative letters to beneficiaries as an executor of the trust in a brief and crisp manner.
Format for Letter From Executor to Beneficiaries
A1122, Park Avenue Street
05 April, 2005
52 Richmond Street
Re: Account No. 123456
This is to inform you that due to insurmountable financial difficulties, M/s Thunder Steels has been forced to declare bankruptcy. Under the legal guidance of our attorney, we have started Chapter III proceedings. As a result of which, all of M/s Thunder Steels’ debts will be turned over to a trustee in bankruptcy who will be responsible for evaluating each debt and will accordingly place it in line either for making payment or for discharging through the bankruptcy process.
I would really appreciate it if you would direct any further queries regarding this account to our bankruptcy attorney, Hugh Jackson. Feel free to contact him at 012-123456.
The trustee in bankruptcy will stay in regular touch with you to keep you informed about the status of your account so that you are aware of its standing in the bankruptcy process.
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