How does a Trustee of Trust, go about selling?

[bensondg]

I hope someone can help me. I am in CA if that matters.

I became Trustee of my Aunt's Estate. While not knowing all that it entails, and what obligations I have to carry out, I consulted with a law firm, that is assisting me in the process. They will be paid out of the Trust. Does this mean that I am no longer the Trustee if the law firm is administering the trust? They are sending out notices to all beneficiaries named. If not for the law firm, I would be lost, as I have no experience in this at all. My aunt didn't think to let a bank or attorney handle this, instead she named me.

Here is my main question. There is a home that needs to be sold. The entire estate is going to 4 of my relatives named on the Trust. What will be my role, besides hiring an agent? What happens when the home sells? Will I get the check for the sale and distribute among relatives, or will escrow or the law firm handle this? I am confused. Please give me your expert advice. Thank you. Gary

[RG1x]

A trustee is named by the beneficiary, as trustee you can only be removed of title by the beneficiary. The law firm is not taking over, they seem to be assisting you and will be taking their fees out of the trust which is possible because apparently you authorized such.

As trustee, you are the one who basically gives permission for the property to be sold. Payouts should be distributed to the relatives as beneficiary and not you, you only control the estate and do not benefit from it.

**** I am not an attorney, this is just my opinion****

Just ask a lot of questions to the law firm if you are unsure about anything.


Robert Greco
up4salehomes. com