Legal Question in Wills and Trusts in Texas

When my father-in-law passed away, he left everything in an estate for his 3 grandchildren. When my son is 21 the estate is liquidated and my son will get his third then the remainder goes into another estate for my daughter and niece. The estate has a piece of property in it and we are concerned that the Trustees will not necessarily get the best price for it. Can my son indicate to the trustees that he would be interested in purchasing the property from the trust if below a certain value? Or what would be the best way to ensure the best price is obtained. There are also 3rd party people who might be interested.


Asked on 11/04/09, 4:37 pm

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

The trustees have a fiduciary responsibility to get the best possible price for the property. If they don't, they could be personally liable and your son could sue for damages.

Read more
Answered on 11/09/09, 4:46 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Texas