Trust Properties

If you are the successor trustee and tasked with selling a property (or multiple properties) held in a trust there are very specific things you need to know.

First, being a successor trustee can be a thankless job. You have been entrusted by the deceased to carry out their wishes in their absence.

Unfortunately other beneficiaries may have a different opinion on how those wishes are best to be carried out that may be in direct conflict with your idea of the best methods. 

Trustees are often paid for their work which could be dozens or hundreds of hours, but this alone can often be a point of contention among the other beneficiaries. 

Dealing with personalities and keeping peace in the family should be considered in the process and keeping as much of the proceeds as possible should always be the goal.

You have a responsibility to get the absolute highest amount possible for the properties you are responsible for selling but doing this and dealing with all of the personalities and different opinions of beneficiaries, spouses, and outside advisors can be difficult. 

Home selling expert, Rex Paul Riffel sells many homes held in trust and goes over some of the common questions that come up in the selling process. 

With questions or to set a time to meet.

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