Legal Question in Wills and Trusts in New York
If 2 out of 3 beneficiaries of a trust do not want to sell an asset in the trust but the 3rd beneficiary does and she is the trustee, can she sell the asset?
Asked on 5/05/10, 6:21 am
1 Answer from Attorneys
Yana Feldman
Melnik Law Group
Every trust is individual, so I would have to look at the specific document to give you a correct answer. That being said, the trustee has power to manage the trust property during the trust term. The beneficiaries usually do not have control over this power unless the trustee is violating her fiduciary obligation to the Grantor of the trust, by wasting or mishandling the trust property.
Our office would be happy to advise you as to your specific situation.
Answered on 5/19/10, 6:24 am
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