Trust Successor

michigan -
i am the successor to my mom's trust. i am to divide all assets quarterly. in regard to the selling of her home, one of my three brothers is interested in buying however, there is some discrepancy regarding the selling price. do i have to "haggle" with my other two brothers regarding the selling price, or may i sell for a price that is doable for my interested brother and gives the other brothers only a small amount less then what they believe he should pay?

You are in a no win situation.

As successor trustee you have the power to decide, BUT you must also act fairly in the interests of all the trust beneficiaries. That you may be willing to make a gift to brother 4 does not mean brothers 2 and 3 also are willing to do so.

IF the house is put on the market, there are fix up expenses, inspection fees, real estate commissions (often 6-7%), the time delay involved (while taxes, insurance, etc. continue to run), etc. AND who is to say that real estate prices may not collapse in the next 6 days or weeks or months while the property reamins waiting to be sold and taxes run and repairs may be needed.

So to protect yourself, I suggest that you get at least 2 or 3 written statements of local real estate agents as to what they think it will go for if sold, and how long it will take to sell. If you sell it to brother 4 for 7-10% less than the average (at least assuming they are reasonably close), there should be no cause for anyone to complain. Even up to 10% less than the lowest may be justifiable, but you will have to live with the other 2 for years so point out to them the dangers involved with putting it on the market.