Purchasing from Estate?

[pburchett]

What is the name of your state? Kentucky

Can the Administrator of an estate purchase items from the estate as long as they get a minimum of one appraisal for the fair market value of the items to be purchased?

 

[JETX]

Can the Administrator of an estate purchase items from the estate as long as they get a minimum of one appraisal for the fair market value of the items to be purchased?

Can he?? Yes. Can he do so and be safe from any problems from the estate beneficiaries?? Not without their prior permission.

 

[pburchett]

Can he?? Yes. Can he do so and be safe from any problems from the estate beneficiaries?? Not without their prior permission.

Even if the other beneficiaries have waived appointment as fiduciary and requested that the courts appoint this lady as fiduciary of the estate (which the courts did & appointed her administrator)?

Would it be better/best if she was required to get at least two independent estimates, which would put a small system of checks on the purchases?

 

[JETX]

Even if the other beneficiaries have waived appointment as fiduciary and requested that the courts appoint this lady as fiduciary of the estate (which the courts did & appointed her administrator)?

Yep. None of that waives or obfuscates her fiduciary obligation.

Would it be better/best if she was required to get at least two independent estimates, which would put a small system of checks on the purchases?

It would be best if she didn't purchase from the trust at all. However, if she absolutely INSISTS on doing so, then I would get at LEAST two separate estimates of value AND get the written permission of each potential beneficiary... or the court.