1.2 The Importance of the Right to Information
A trust, at its core, is defined in terms of the duty owed to the beneficiary: “A trust … is a fiduciary relationship with respect to property for the benefit of another person.” Assuring that the Trustee fulfills its duty to the beneficiary hinges on the beneficiary knowing what actions the Trustee has been taking. In other words, a beneficiary’s right to information concerning the trust and its management is the fundamental basis for securing a beneficiary’s rights. Indeed, as set out below, the beneficiary’s right to enforcement exists even when a Trustee has “absolute” or “sole” discretion. Restatement (Second) of Trusts § 2 (1959).