Regarding a revocable Trust, do beneficiares get the proceeds from the sale of a house while the grantor is still alive?

Get Legal Help Today

 Secured with SHA-256 Encryption

Regarding a revocable Trust, do beneficiares get the proceeds from the sale of a house while the grantor is still alive?

My mother has given power of attorney to one beneficary and one of beneficiaries is the trustee of her revocable Trust. The trustee is selling the house. My mother is still alive in assisted living. Do all beneficiaries get proceeds of the house sale at time of sale, do they have to wait for her death, or do all proceeds go to the grantor?

Asked on November 15, 2017 under Estate Planning, Massachusetts

Answers:

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

Answered 3 years ago | Contributor

The terms of the Trust will govern what happens to the proceeds when an asset is sold but improtant to know is if the Trust is made for your Mother's benefit?  Likely none of the assets or proceeds would be distributed until her death.  Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption