Legal Question in Wills and Trusts in California
My sister is the executor of my mother's estate. There is a living trust naming myself and my sister as beneficiaries. The largest asset is a home worth about 400,000. Can she decide to sell it immediately, even if I object? I am interested in a small piece of undeveloped property worth $5,000. Can my sister dispose of the property without my agreement? Does she have to allow me the option of buying it? Are there any deadlines for settling the estate, or can this process go on indefinitely?
2 Answers from Attorneys
Your sister has an obligation to you and your sister to maximize the income to the trust, and at the same time distribute the trust asssets in a reasonable time. As the trustee, your sister is required to prudently manage and liquidate the assets, if that's what the trust document states. She does not need your agreement, as she is the trustee. Why don't you have a third party sit in while you discuss this in a businesslike way, and explain how what you propose would benefit both you and your sister. I would think the thought of increased money to her should be appealing.
I need to review the documents to render an opinion on how to proceed. Contact me directly.
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