Legal Question in Wills and Trusts in Florida
The grantor of the trust has passed, but there remains a trustee. In the trust there is one asset, real estate that is occupied by one of the beneifciaries who is finacially unable to continue to afford the costs of maintianing the real estate. What options are available to liquidate the asset, which the trustee has agreed to do if possible, and take the yield to downsize into something more affordable and use any supplemental yield to create an earning mechanism to pay living expenses with?
Asked on 2/02/10, 9:33 am
1 Answer from Attorneys
David Slater
David P. Slater, Esq.
Either Trustee or beneficiary may petition the court to terminate the trust.
Answered on 2/07/10, 11:23 am
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