Legal Question in Wills and Trusts in California
Executor information
A brother and sister. The brother is made Executor of the parent's living trust. Shouldn't they be co-executors? For example, if the parents own a house worth a good deal of money. If the brother is the only executor, can't he decide to rent out the home instead of selling it. Even though the sister has an equal share of the parents assets, Can the brother/executor rule over what is done with assets? And if so, does the sister have any recourse? Thank you.
2 Answers from Attorneys
Re: Executor information
Your question calls for a complete lecture on trust administration which is not really possible to give in this brief format.
The trustee must follow the instructions of the trust, and the law of trusts as well, or is subject to removal for cause by the Court upon application of the beneficiaries.
What the trustee does depends upon the wording of the trust. Estate planning is something that can have far reaching effects upon the estate, the beneficiaries and the legacy left by the trustors. Often estate planning is done "cheap-o" style, and you get what you pay for.
If you want a complimentary copy of my audio CD "Your Estate Plan" you can call 480.835.1500.
Re: Executor information
the trust agreement must be reviewed in order to answer this question.
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