• Sell Assets

  • It is often the trustee’s role to sell assets of the trust. One of the triggering events, usually death or divorce, might require that an asset(s) be sold. Or it could be due to moving into assisted living or into a family members home. The process of listing a property with qualified realtors, getting a Fair Market Value appraisal, and reviewing the sales document with the trust attorney are all of the process to make sure that the beneficiaries get the most from the sale. The determination of the tax consequences are also evaluated so that a proper amount of taxes are withheld to be paid by the trust or the beneficiaries. Often the property is a family home or business and has sentimental value to the family, but the trustee’s role is of the independent agent that can get through the emotional dilemma that is often faced by a family member(s). The trustee can never be involved with buying the trust assets personally,