Legal Question in Investment Law in California
Sell of investment property
When a spouce dies and has a Trust, can the Trustee sell the investment property (in this case a home) as Trustee of the Trust or do you need to be the Ex. of the Estate
1 Answer from Attorneys
Re: Sell of investment property
The trustee can deal with the trust property according to the terms of the trust. There is a statutory requirement that the successor trustee of a recently deceased person's trust must give notice of the change of trustee to all beneficiaries. For this reason and the additional reason that administering any trust imposes very stringent requirements of ethical conduct upon the trustee, with major legal consequences if the new trustee screws up, I recommend any successor trustee get at least a little coaching from an attorney who specializes in trusts and estates. There may also be non-trust, probate assets that need to be handled.
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