Legal Question in Wills and Trusts in Kentucky
My father and mother passed away 7+ years ago. There was a living trust, which contained their assets. There was a stipulation that the home be either sold and assets split or an heir be given first refusal on it's purchase. i elected to purchase the property. The home was furnished. The trust stated the furniture be appraised and either sold or divide between the beneficiaries of the trust. No one had any interest in the furnishings, or their value, at the time, other than a few pieces, which were distributed, the remainder were left on premises, even a few that were never picked up by those that had expressed interest. It has now been 7 years, some have been disposed of, some have been restored, etc. now one of the beneficiaries, said he still has rights to them and requested to basically cherry pick a few items, since he was entitled to a share. Is that right after 7 years of no concern.
1 Answer from Attorneys
The answer to your question lies in the language of the trust document. The trustee is bound to follow the trust document's instructions and the trust grantor/settlor's intentions. If the trust document doesn't provide an expiration of such right then it's likely a valid claim of the beneficiary in some capacity but, it's impossible for me to tell with certainty without actually reviewing the trust document. It seems unlikely, to me, that the beneficiary has the right to now pick and choose exactly what he wants.
Please feel welcome to contact me if you would like me to review the trust document for you.
Even if you do not speak with me, you should really speak with an attorney who can review the trust document and your rights under the trust.
I hope this has helped. If I had the trust document in front of me I could have been more specific but since I don't these are obviously only hypothetical scenarios.
Thanks,
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