The Trust is executed…

By
Real Estate Sales Representative with Keller Williams Realty Empire Brooklyn NY

 

I have a very dear friend of mine that I have known since high school contact me through Facebook. He works in the oil and gas field in South America and was coming back to see his father who was deathly ill. Sorry to say, his father passed, but at least my friend got back in time to see him alive. He had a lot of different things to take care of, one of them being the family trust.

He asked me for his help and advice. He had a living trust that named another family member as the executor. They didn’t know how to decipher this trust (due to it being in lawyer jargon) so I explained it to him. His other family members weren’t as trusting, so I brought them to an attorney for a reading.

The living trust stated at the death of the last parent all assets were to be sold off and divided among the siblings. The one family member who was the executor acted like she was the king of all the assets and was bulling the other two siblings. I find it amazing how a family can fight over assets from the death of a loved one instead of thinking of it as a gift.

 

Posted by

Luke Constantino
Realtor
Commercial/Residential
Keller Williams Real Estate
9120 4th Avenue Brooklyn, NY 11209
Office: (718) 954 8400
Direct: (212) 300-3919
lukeconstantino@gmail.com

 

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Rainmaker
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Lottie Kendall
Helping make YOUR dreams a reality
Today | Sotheby's International Realty

Sad, but true. It happens all too often. Parents perhaps could help prevent future squabbles by talking over their intentions, in person, with all family members. Hope you friend and his family can get past the issues.

April 02, 2010 06:28 AM
Rainmaker
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Mary Yonkers
Erie/PA Real Estate Instructor
Alan Kells 1-814-881-7548

Luke,

" "  Ditto  As Lottie said it is sad.  That response will taint the relationship of those siblings for the rest of their lives and spill over into the lives of their children, too.  I can relate since this is what happened when my grandfather died many, many years ago.

I am glad that you were able to help your friend through this difficult time.

Mary

April 02, 2010 07:15 AM
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Luke Constantino

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