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Reply to "Estate/Trust Distribution Question"
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[quote=Anonymous]There may be more to this trust - for example a clause where the trustee/spouse can live in it until their death, and THEN the property gets distributed to the OTHER beneficiaries. By how you've written it, the trustee is a beneficiary. All of the beneficiaries are heirs, including the spouse. When speaking of a trust, those who receive assets through a trust are beneficiaries. If all of the beneficiaries are in agreement, there is no reason to sell the property. That INCLUDES the trustee beneficiary. If one beneficiary wants the cash instead of the property, things get tricky, and you will likely have to consult a lawyer to see what can occur. If it is only the spouse who wants/needs cash, the other beneficiaries can buy the property from the trust - in the end this will really mean only providing cash to the trustee to cover estate expenses and the amount of the valuation over $1 million. Hope this helps. [/quote]
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