Legal Question in Wills and Trusts in New York
Exercising The Will
I am the executrix of my mother's will, but I don't understand the exact meaning of this clause in the will:
''I give said executor and substitute executrix the fullest power and authority allowed in all matters and questions to do all acts which I might or could have done if living, without restrictions to investments permitted by law, to sell at public or private sale for cash or credit with or without security, to morgage, lease and dispose of in kind all property, real and personal, at such times and at such place as they may deem advisable subject only to the provisions of this will.''
Does this mean that I can give a family member who is also mentioned in the will, her house because no one else wants it?
3 Answers from Attorneys
Re: Exercising The Will
Yes. However, have all interested parties acknowledge in writing that they do not want the house. This way, you will avoid problems in the future.
Re: Exercising The Will
Yes. If you are worried have everyone else consent to it. Good luck.
Re: Exercising The Will
Yes, however you should draft a release for each other person (those who you say "don't want the house")and have them sign. The release simply says that each person is releaseing their claim or interest in the property and they consent to the family member you mentioned getting it. If you have questions you may call me at 718-935-9079. -Eric Kochel.
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