For irrevocable trusts, when must the trustee or escrow agent provide account information to the buyer?

The correct response is based on the requirement that trustees or escrow agents provide account information to buyers upon request. This is a fundamental aspect of the fiduciary duty that trustees have in managing the trust assets, ensuring transparency and accountability. Buyers or personal representatives have the right to access relevant information to understand the status and management of the trust assets, particularly in the context of irrevocable trusts which may involve significant financial implications.

This approach helps to foster trust and ensures that beneficiaries or interested parties are kept informed about the management of the assets, allowing for oversight and addressing any concerns that may arise. The provision of information upon request rather than on a set schedule promotes flexibility and responsiveness based on the needs of the buyer or representative.

In contrast, other options imply an automatic or rigid schedule for reporting, which might not align with the needs or rights of the buyers. Such options lack the necessary framework that acknowledges the necessity for buyers to initiate the request for information, reinforcing the integrity and responsiveness required in fiduciary relationships.