Legal Question in Wills and Trusts in Arizona
I am the sole beneficiary of a trust. The trustee asked if she could sell a trust property to her daughter for $85,000 below appraised market value. I told her I was not comfortable with that offer. She then said she would not sell the property right now and would not sell it for that low. I just learned by looking at a real estate website that the trustee sold the property for $75,000 below appraised market value 2 weeks ago. She did not communicate this at all to me and it sold less than a month after she last communicated to me she would not sell it right now or for that low. Is this something I should consider hiring a litigation attorney to look more into? Is this a breach of her duties to act in the best interest of the beneficiary?
1 Answer from Attorneys
If the facts are as you explain then a sale of trust property by the trustee to a related person for below market value would be a conflict of interest and breach of fiduciary duties, yes. You should definitely get a lawyer to look into this on your behalf.
Good luck.
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