Legal Question in Wills and Trusts in New York
Question about revocable trust
My cousin E is the executrix of my Aunt M's estate. Aunt M passed away about 2 years ago and left a revocable trust (of which I am included as an heir) The trust includes an apartment in Manhattan and stocks. Cousin E has yet to sell the apartment nor has she sold the stocks. What rights do I have as an heir to tell E my opinion on what to do with the stocks and what to do in
terms of selling the apartment?
2 Answers from Attorneys
Re: Question about revocable trust
Is E the trustee of the revocable trust? What does the trust say about disposition of the property held in trust? The Surrogate can order the trustee to perform his or her trust duties.
Re: Question about revocable trust
It is the responsibility of the Trustee (T), acting under the trust, to handle and dispose of the assets in the trust, as the trust provides. E may have no ability to compel T to act, unless these positions are held by the same person. The Surrogate can compel action, and T owes all beneficiaries fiduciary responsibility. One or more beneficiaries can petition the Surrogate to compel T to act. Contact me directly if you need more information.
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