Legal Question in Wills and Trusts in Georgia
possible abuse of power by executor/ trustee
My father and his sister were named co trustee/executor for my grandparents' estate when my grandfather died 2 years ago. All financial assets were divided, and my grandfather's portion was put into trust to be disbursed at my grandmother's death, on a % basis. The will stipulates all real properties are to be sold and proceeds divided among beneficiaries on the same % basis. My aunt, the executor/trustee, along with her children, all of whom live locally (Georgia) and all of whom are beneficiaries, have been cajoling my grandmother into giving them real property items of considerable financial worth (ie jewelry) from the estate, as well as money gifts. We are trying to decide if my aunt is acting illegally or just badly. Is it a breech of her obligations as a trustee to wheedle high-value items from my grandmother that would otherwise contribute to the value of the estate? Is this a breech of her duty of loyalty to all beneficiaries, as her actions are denigrating the ultimate value of the estate assets? My brother believes that since real property is named only as a financial asset in the will, all gifted items should be appraised and their financial equivalent deducted from their inheritance. Thank you for any help.
1 Answer from Attorneys
Re: possible abuse of power by executor/ trustee
You reference several documents that presumably were drafted by competent lawyers. Thus, any kind of interpretation needs to be by a competent lawyer who can review them all. For example, it is impossible to tell from your post if estate or trust property is at issue, or it is the grandmother's personal property (since it is jewelry, which is NOT "real property"). If grandma's personal property, she likely can do with it what she wants, as long as she is of sound mind, and that generally includes giving it all away. Thee are many other questions, so it is safe to say your post is beyomnd what can generally be handled in this little box. The lawyer who drafted the documents may be a place to start.
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