Legal Question in Wills and Trusts in Ohio
If a will states that the executrix can sell, trade etc stocks and bonds can that still be done if the stocks etc are held in a trust account? thank you
Asked on 2/08/11, 3:21 pm
2 Answers from Attorneys
Elizabeth Schmitz
Elizabeth S. Schmitz Attorney at Law
The executor would not have any power over assets in a trust account. Only the trustee can sell items in the trust. The executor has power over assets in the probate estate. That would be assets that were in the deceased name alone when he or she passed away.
Answered on 2/08/11, 4:37 pm
Nancy Fioritto Patete
Nancy Fioritto Patete, Esq.
An exception would be if the probate estate created a trust from the will. This would be a testamentary trust.
Answered on 2/10/11, 7:10 pm
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