• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Trustee refusing to sign a contract to settle a trust

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

rcshahan88

Junior Member
What is the name of your state (only U.S. law)? California

I am one of 4 trustees in a trust. The trust a bypass and a survivors trust which includes an estate home. Two of the trustees are buying the other two out of the interest of the home and will receive they money for their share of the home. One of the trustees who is being bought out is refusing to sign a contact which was created to explain how the assets were to distributed among the trustees. She feels that if she waits she will receive more money than what is stated in the trust. She feels that the house is worth more than what it was quoted, and also feels that if she purposely stalls the signing of the contract, this will upset the two that are buying her out and they will offer her more money so the distribution process will continue. Do we need a contract explaining how the assets will be divided? Isn't the purpose of a trust to explain the distribution process? If she contests the distribution of the trust, what can we do to go around that and continue the distribution process?
 


Zigner

Senior Member, Non-Attorney
What is the name of your state (only U.S. law)? California

I am one of 4 trustees in a trust. The trust a bypass and a survivors trust which includes an estate home. Two of the trustees are buying the other two out of the interest of the home and will receive they money for their share of the home. One of the trustees who is being bought out is refusing to sign a contact which was created to explain how the assets were to distributed among the trustees. She feels that if she waits she will receive more money than what is stated in the trust. She feels that the house is worth more than what it was quoted, and also feels that if she purposely stalls the signing of the contract, this will upset the two that are buying her out and they will offer her more money so the distribution process will continue. Do we need a contract explaining how the assets will be divided? Isn't the purpose of a trust to explain the distribution process? If she contests the distribution of the trust, what can we do to go around that and continue the distribution process?
You need the advice of an estate attorney - Your situation is beyond the scope of an internet forum.
 

tranquility

Senior Member
Why is a "contract" necessary for distribution?

If it is, then two things.

1. Merely not signing something is not a breach of fiduciary duties.
2. Not signing something for personal gain may be a breach.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top