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My father drew up a revocable trust back in 1991, with my

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mother and he as cograntors...
My father drew up a revocable trust back in 1991, with my mother and he as cograntors and trustees. The condominium that he owned was titled under his name, but outside of the trust. In 2010 my father died...the lawyer who drew up the trust, retitled the condo under my mothers name...and also put it inside the trust. My mother died last month. The successor trustee, as designated in the trust, is to be my older brother. What are the steps we must take that will alllow us to sell the condo. We live in Missouri.
Submitted: 1 year ago.Category: Estate Law
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Answered in 11 hours by:
8/3/2016
Estate Lawyer: Maverick, Attorney replied 1 year ago
Maverick
Maverick, Attorney
Category: Estate Law
Satisfied Customers: 6,425
Experience: 20 yrs of professional experience.
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Can you take a look at the title and tell me if its says that the condo is jointly owned by the trust and your mother? I think that is what you are saying; but I am not sure...

Also, who is the executor of your mother's estate?

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Customer reply replied 1 year ago
in 2010 the condo was made an asset of the trust, then retitled with my mother as the trustee. My mothers Will bequeths all of her estate assets to the trust. My mother's Will does not use the term "executor", but names my father as the "Personal Representative" to administer the Will. In the event of his death, which took place in 2010, the Will names my brother as the successor Personal Representative. He is also named as successor trustee in the trust. If necessary, please call(###) ###-####for any further clarification...after 4*****if possible.
Estate Lawyer: Maverick, Attorney replied 1 year ago

Since the condo is an asset of the trust and your brother is now the trustee, you brother has to look to the terms of the trust to see what happens to the condo and when. The trust may or may provide for a transfer of the condo at this time. But, for example, if we assume that under the terms of the trust the condo was to given to equally to you and your brother upon your mother passing away, then your brother would first have to transfer title from the trust to you and him as joint beneficiaries.

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Customer reply replied 1 year ago
the trust divides all assets, which includes the condo, equally between four beneficiary children. So if I understand correctly, the condo will need to be sold, where upon the cash proceeds can then be divided equally. But to sell the condo, it will need to be retitled in my brothers name (successor trustee), which allows him to sell the property. Correct??
Estate Lawyer: Maverick, Attorney replied 1 year ago

To transfer property to the name of the successor trustee, a form called "Affidavit of Death of Trustee" should be prepared and filed with the real property recording office in the county where the property is located. Once that is done [and unless the terms of the trust indicate otherwise], then your brother can transfer title to all four children equally who can then agree or not agree to sell it and divide the proceeds.

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Customer reply replied 1 year ago
O.K., I think that answers my question....thank you very much.
Estate Lawyer: Maverick, Attorney replied 1 year ago

You are welcome.

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Maverick
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Category: Estate Law
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