Does my sibling have the right to see my mother's insurance paperwork?

Full question:

My mother passed away this year leaving a life insurance policy with myself only as beneficiary, she had no other assets and had lived with me for the past 7 years after my father died. He stated my mother did not want to go into a rest home and her monthly income of S & S should take care of her living with me, now my only other sibling is wanting to see all of my paperwork, does he have the right?

• Category: Fiduciary Duty
• Date: 04/07/2025
• State: Minnesota

Answer:

Fiduciaries, such as guardians or executors, have specific duties to those they serve. They must act in the best interest of their clients, avoiding any conflicts of interest. The main duties include:

• Duty of loyalty: Act solely in the interest of the client.
• Duty of care: Perform their responsibilities competently and thoroughly.

To claim a breach of fiduciary duty, three elements must be present:

1. There is a trust relationship where one party relies on the other.
2. The fiduciary fails to meet their duties.
3. The client suffers damages as a result.

Defenses against breach of fiduciary duty claims can include:

• The claim is filed after the statute of limitations.
• No fiduciary relationship exists.
• Lack of standing.
• Actions were approved by the client.
• The business judgment rule applies.

If you were your mother's legal guardian or conservator, you might be required to provide an accounting to the court. Relevant Minnesota statutes include:

• 524.5-419: Inventory and records must be filed within 60 days of appointment.
• 524.5-420: Annual reports on the estate's administration are required.

In summary, whether your sibling has the right to see the paperwork may depend on the nature of your relationship and any legal obligations you may have as a fiduciary.