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I am now the only trustee as my Mom just passed. Since there…

Customer Question
I am now the...

I am now the only trustee as my Mom just passed. Since there were two trustees does the devision of property need to occur? I'm asking as one of the benificaries wants to sell the home that is in the trust but I, the only living Trustee, does not. Must the asset be divided anyways?

Lawyer's Assistant: Estate laws vary by state. What state are you in?

California

Lawyer's Assistant: What documents or supporting evidence do you have?

A trust where I was named Co-Trustee and a Last Will and Testamemt where I was named Executor.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

The trust asks that us (the two sisters are given equal parts once the Trustee dies). If I now own the trust and am alive does this apply? I would like to rent the home and equally give the extra rent split evenly between the beneficiaries (my sister and I) then sell the home.

Submitted: 5 months ago.Category: Estate Law
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11/12/2017
Estate Lawyer: Phillips Esq., Attorney-at-Law replied 5 months ago
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Estate Law
Satisfied Customers: 21,309
Experience: B.A.; M.B.A.; J.D.
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Hello: This isCustomer Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

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Estate Lawyer: Phillips Esq., Attorney-at-Law replied 5 months ago

My deepest sympathies for the loss of your mother.

Your Question:

I am now the only trustee as my Mom just passed. Since there were two trustees does the devision of property need to occur? I'm asking as one of the benificaries wants to sell the home that is in the trust but I, the only living Trustee, does not. Must the asset be divided anyways?

Response 1: No. Unless the Trust provides that the Trust be dissolved after the death of the Trustee who also is not a beneficiary of the Trust.

The trust asks that us (the two sisters are given equal parts once the Trustee dies). If I now own the trust and am alive does this apply? I would like to rent the home and equally give the extra rent split evenly between the beneficiaries (my sister and I) then sell the home.

Response 2: Only if the Trust provides that the Trust be dissolved after the death of the Trustee who is not also the beneficiary of the Trust. If the Trust did not indicate that, then the surviving Trustee is still the Administrator of the Trust and a beneficiary cannot override the decision of the Trustee.

Best wishes,

A positive rating to my response is appreciated so that I can receive credit for responding to your post. There is no additional cost to you for giving a positive rating.

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Thank you for your cooperation.

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Category: Estate Law
Satisfied Customers: 21,309
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Experience: B.A.; M.B.A.; J.D.

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