Document background
The Waiver of Accounting is commonly used in trust and estate administration across the United States when beneficiaries have sufficient trust in the fiduciary and wish to reduce administrative costs. This document becomes relevant when beneficiaries are willing to forgo their right to detailed financial reporting, often in situations where the estate or trust administration is straightforward or when there's a close relationship between the fiduciary and beneficiary. The waiver must comply with state-specific requirements and typically includes clear acknowledgment of rights being waived, the scope of the waiver, and any limitations or conditions attached to it.
