Do I have to pay for items left in a trust?

My grandpa recently passed away and we are working on his estate, tagging what we want and what is not tagged gets sold at auction. Now the executor is stating that my mother and uncle have to pay for items they want that they tagged, meaning it will come out of their trust funds. Is this true? And if not, what is exactly going on?

Asked on March 25, 2018 under Estate Planning, Georgia

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

I am so sorry for your loss.  The terms of the Trust govern the disposition.  Is it possible that the Trust states that all items are to be sold and the proceeds distributed to x,y and z?  Then is parties are permitted to just take items without putting the value back in to the Trust it "cheats" the other beneficiaries.  So maybe also if he puts a fair market value on the item (or all agree to a value) they get that item instead of the funds they would get a part of if sole.  Get the Trust.  Good luck.


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