Legal Question in Wills and Trusts in Massachusetts
One of my sisters-in-law is the executor of my father-in-law's estate. She wants to sell the house included in the estate for less than half of the appraised fair market value to her son. She approached my spouse and the other two heirs and obtained their written consent to do so during an informal meeting while they were going through my father-in-law's personal effects. My spouse informs me now that she felt under peer pressure from her sisters at the time when she signed the document because the sister who is the Executor commented to her when she expressed reservations about selling at such a low price: "What, are you just in it for the money?" which embarrassed her in front of the other two heirs so she went ahead and signed the document. What are her recourses?
2 Answers from Attorneys
Your spouse should retain an attorney immediately to make sure that she withdraws her consent as quickly as possible and informs all of the appropriate persons. Without more information, the executor has a duty to treat all beneficiaries fairly, and it is simply not appropriate to sell an estate asset below fair market value to a non-beneficiary. The longer your spouse waits to address this the harder the damage will be to undue. Good luck.
Attorney Vaughn-Martel has given you good advice. Your spouse may want to object to her sister acting as Personal Representative as she is exhibiting a bias and conflict of interest to the detriment of all other beneficiaries.
She has also failed to consider the gift tax impact potential for selling the home to her child.
Good Luck.
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