Recent Feedback
How do 4 children devide items in a trust, that involves land,an antique furniture , 1845 southern mansion. when the only girl comes up with a paper saying that all the furniture(1878 classic) belongs to her sighned by moma????? ; thank you ; john
Optional Information: State/Country of Question: Mississippi Already Tried: nothing an my sister just loaded up nearly al the antique furniture,even things not on her list.An we three men told her not to.
Good morning John,
I'm sorry to hear of your dilemma.
When the deceased bequeathes specific belongings in a trust, such as has been done, the furniture must be valuated and set off against the value of the other items in the trust. So, if the trust is worth 4 million, and the furniture is worth half a million, the daughter would be entitled to no more than half a million more of trust property.
Because the property values will not likely be evenly devisable by 4, there is a possibility that some of the property will need to be sold in order for the final distribution to be equalized--presuming that the trust designated equal distribution between the 4 children--unless other arrangements can be reached.
I wish you the best.
Thank you very much for having allowed me to assist you. It would be greatly appreciated if you would click the green Accept icon so that I can receive credit for having assisted you.
Best regards,
Doug
Experience: I am a practicing attorney with more than 27 years of experience in the legal field.