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New Thread, One Question

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J

JustFactsPlease

Junior Member
What is the name of your state? California

The original thread has taken on a life of it's own and has gone off on some strange journey so I will attempt to ask just one question here and see what the answers are. :)

When a piece of property such as a home, or a ranch is given to three beneficiaries of a Living Trust and those beneficiaries do not want to own the home or the ranch together what is generally done. ?

To make this question easier to answer lets say that the Trustor has passed away and it is time to distribute the assets in the Living Trust and the ONLY asset in the Living Trust is the home or ranch. The Beneficiaries of the Living Trust are A, B and C. All expenses have been paid to settle the estate already. The trustor was buried in a fur lined solid gold casket.

I hope this question remains simple.
 
Last edited:


S

seniorjudge

Senior Member
Q: When a piece of property such as a home, or a ranch is given to three beneficiaries of a Living Trust and those beneficiaries do not want to own the home or the ranch together what is generally done?

A: There is no "generally". But, what can happen is that the stuff is sold. Anyone can buy it, including one of the beneficiaries, or me, or the old lady down the street, etc.


Q: To make this question easier to answer lets say that the Trustor has passed away and it is time to distribute the assets in the Living Trust and the ONLY asset in the Living Trust is the home or ranch. The Beneficiaries of the Living Trust are A, B and C. All expenses have been paid to settle the estate already. The trustor was buried in a fur lined solid gold casket.

A: I didn't see the question there; is there one?
 
T

tranquility

Senior Member
Same answer as in the previous thread. If the trustee acts reasonably and in accordance with his fiduciary duties, if all the beneficiaries agree it is unlikely to be litigation and, if there is, the trustee will not have a problem. If the beneficiaries don't agree, but the trustee acts reasonably and in accordance with his fiduciary duties, litigation is very possible, but the trustee will not have a problem. If the beneficiaries don't agree and the trustee either does not act reasonably or breaches his fiduciary duties, then litigation is very possible and the trustee has a big problem.
 
J

JustFactsPlease

Junior Member
Thank you both very much. OK. Case closed. Don't need any more replies.

Now, wasn't that easy. No accusations etc. I guess I should have made it easier in the first place on the other thread, but, I added too much information that was not needed. I learned a lesson.
 
J

JustFactsPlease

Junior Member
seniorjudge said:
Q: When a piece of property such as a home, or a ranch is given to three beneficiaries of a Living Trust and those beneficiaries do not want to own the home or the ranch together what is generally done?

A: There is no "generally". But, what can happen is that the stuff is sold. Anyone can buy it, including one of the beneficiaries, or me, or the old lady down the street, etc.


Q: To make this question easier to answer lets say that the Trustor has passed away and it is time to distribute the assets in the Living Trust and the ONLY asset in the Living Trust is the home or ranch. The Beneficiaries of the Living Trust are A, B and C. All expenses have been paid to settle the estate already. The trustor was buried in a fur lined solid gold casket.

A: I didn't see the question there; is there one?
Click to expand...

Judge, there is NO question to the second part. Simply a statement and an attempt at humor which does seem to be lacking on this forum. :) I am a firm believer that humor can enhance serious situations. Like the time I removed a pancake from a roll of fat on an obese ladies tummy. She too thought it hilarious at the time and by laughing I saved her the embarrassment. Maybe the legal profession should try an attempt at humor :eek::
 
S

seniorjudge

Senior Member
JustFactsPlease said:
What is the name of your state? California

The original thread has taken on a life of it's own and has gone off on some strange journey so I will attempt to ask just one question here and see what the answers are. :)

When a piece of property such as a home, or a ranch is given to three beneficiaries of a Living Trust and those beneficiaries do not want to own the home or the ranch together what is generally done. ?

To make this question easier to answer lets say that the Trustor has passed away and it is time to distribute the assets in the Living Trust and the ONLY asset in the Living Trust is the home or ranch. The Beneficiaries of the Living Trust are A, B and C. All expenses have been paid to settle the estate already. The trustor was buried in a fur lined solid gold casket.

I hope this question remains simple.
Click to expand...
In your other thread, you said the trustor was still alive?!:confused:
 
S

seniorjudge

Senior Member
JustFactsPlease said:
Judge, there is NO question to the second part. Simply a statement and an attempt at humor which does seem to be lacking on this forum. :) I am a firm believer that humor can enhance serious situations. Like the time I removed a pancake from a roll of fat on an obese ladies tummy. She too thought it hilarious at the time and by laughing I saved her the embarrassment. Maybe the legal profession should try an attempt at humor :eek::
Click to expand...
Lawyers are verrrryyy funny.

Believe me, I know!:D
 
B

BlondiePB

Senior Member
JustFactsPlease said:
Judge, there is NO question to the second part. Simply a statement and an attempt at humor which does seem to be lacking on this forum. :) I am a firm believer that humor can enhance serious situations. Like the time I removed a pancake from a roll of fat on an obese ladies tummy. She too thought it hilarious at the time and by laughing I saved her the embarrassment. Maybe the legal profession should try an attempt at humor :eek::
Click to expand...
Stick around and you'll find some very funny stuff in threads.
 
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