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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 33770
Experience:  15 yrs estate law, real estate. Wills/Trusts/Probate
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Executor of my parents estate established a trust fund to

Customer Question

Executor of my parents estate established a trust fund to pay executor and attroney fees from the estate. Executor has put my parents coin collection and truck up for sale to cover their fees. My sibling has been offered to buy coin collection & truck
they turned it down. If i purchase coin collection & truck from the estate the money would be put into the trust to pay fees, will i still owe my sibling any monies from purchase? Thanks...Chris
Submitted: 1 year ago.
Category: Estate Law
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.

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If i purchase coin collection & truck from the estate the money would be put into the trust to pay fees, will i still owe my sibling any monies from purchase?

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No, if the assets are now owned by the trust, the trustee of the trust would have the authority to liquidate them to use the money for the expenses of the estate. Whatever the agreed on price is for the assets is all you would be liable to pay. If all the money is not used up to pay expenses, then any surplus would be distributed according to the terms of the trust to the beneficiaries.

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thanks

Barrister

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