Should Executor Sell All Estate Assets?

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Can an executor, administrator, personal representative, or trustee sell all of the assets of the estate that they are in charge of settling?
The person in charge of settling an estate or a trust generally has a fiduciary duty to act as a prudent administrator. Whether they should sell, keep, or distribute assets can vary from situation to situation.
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This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.
Paul Rabalais
Estate Planning Attorney

[@rhymereason3449]

If the Estate owns stock that has significant capital appreciation, wouldn't the Administrator selling it create a capital gains tax for the Estate - while if the stock is inherited by someone, it's basis is reset?

[@J3AD]

great videos, wish i wouldve found these when father was alive to help make right decisions, hope they helped others, these videos have helped with probate issues.

[@peggyhavard1126]

Thanks Paul, for all your good video’s.👍🙏🏻🇺🇸

[@Givemeabreak738]

Just stumbled across your page and I appreciate all the free advice your giving to world. My brother recently passed and was not married and had one son. My brother had left 6 properties and 11 houses , unfortunately the date for his trust was in august and he passed in March. I am now experiencing the position of being his administrator of his estate while we go through probate. I do not have intention to sell any of my brother’s properties. WHAT can I do to avoid that situation ? I do live in pricey state so I’m sure my court fees are going to be through the roof after all of this so I understand the business. How do I avoid not selling anything ?

[@cherihill1687]

As executor and trustee for my ex mother in law I am I process of completing her wishes. Her son had borrowed monies over the years to purchase 2 campers for him to live in, numerous cars, and money to pay his bills. She kept a record of all or most of what he borrowed and what the purpose was. Now he’s demanding a copy of the will and wants his inheritance. He is a beneficiary for 15% after all accounts, debts, and burial have been satisfied. Honestly, after all is done there will be nothing left, maybe not even enough to pay her accounts. The home was quit claimed deeded to myself as t.o.d. for taking care of her for almost 7 years. I was all she had as her son only came asking for money until he was cut off 2 years ago, then never came back. He is unaware at this point that I now own the house as he is planning to move into the home. How do I handle this professionally without having to deal with his wrath when I mail him the copy of the will?

[@ScooterWisdom]

Thanks for these videos. I have a question for one of your next videos, and it’s something I can’t get an answer for through several lawyers and accountants. IF a home was willed to two people, county has put the deed in both names, can one party buy out the other party with a 1031 exchange if the willed property is not a primary residence?

[@RachelM603]

Thanks for sharing this! This was very helpful to me. I have gotten valuable information from watching some of your videos, much more then what my probate attorney has given me. 👍

[@kimballentyne3482]

Best wishes for 2024. Thank you sharing this important information. What happens when the executor and his lawyer has filed court documents that are wrong? An incredibly small amount is US$500,000.

[@timothysmith7888]

I’m curious why your response didn’t begin with identifying a) how many heirs and/or beneficiaries are named in the Will and, if applicable, the Trust; and, b) how the bequests are specified? Setting aside personal papers, journals, writings, correspondence and the “residue of the estate”, when there are multiple, designated Beneficiaries - let’s say, eight (8) - including, but not limited to individuals and charitable organizations, each of whom are to receive a different, percentage of the estate as specified in the Will, doesn’t the estate have to be liquidated/sold, in order to satisfy such % distribution?

[@robertbarry1792]

Do you have a video on funds put into an estate account which may take more than a year to settle and how to handle the taxes?

[@nursesjabnicelyouch203]

How can you argue that a joint account was for convenience only? My daughter passed with joint acct that was set up when she was 18 and the family member on the acct has taken all the money

[@Sultan88888]

My sister is executor of moms estate. She didn’t have a reading of the will, two years later i still don’t know how much estate was worth. She gave us 2 checks, don’t know if it was accurate, she decided to pay for my sisters burial even though her husband is worth several million and we r not, she didnt even ask us she just decided to pay. The monies was to go to moms living children. Sister died 9 days before mom. We were not responsible to pay for sister ashes to b put with moms casket. Took 2 years to get a slab and she said she put aside 8000 and whatever was left over she would divide 3 ways. She didnt do that. She paid for sister. I dont even know how much she is to b paid for being executor. Who knows how much she gave herself for that.

[@allen7218]

I learned that if an old person wants to give you something, you should probably take it. My Uncle offered me stuff that I wanted but hated to take it from him. Like tools, old fishing stuff. In my mind, it would have taken away from his being able to do the things he liked to do even if he couldn't do them. They are all gone now because the executor cleaned out the house. Pretty sure they were thrown away. Why he was in charge is another story.

[@Milan_world]

My mother in law died 3months ago her sister is handling the estate I think she had a will ,my aunt refuses to talk with my husband ,she will not call or answer my call, she left a car, house ,bank account, worry what can I do I need help and advice.

[@MissCookie23]

Hello; my name is Robin Nelson from Columbus, Ohio. I am the youngest daughter of four children my mother passed away June 2020 and I am the executor even though there were two executors on the will we had to have the will validated and during that time the magistrate did only Grant executorship to me. Sister signed a waiver. The will states that each child should get a house and all of its content in #1 and in #3 it goes on to say all clothing ,jewelry ,furs, paintings, and valuables not retained Shell be sold and split equally but I’m trying to gather what to interpret from that.

[@blacklizzywith56and9]

@à at 1 I'm

[@John-qw4mx]

What if you were an executor and you didn't know and some whent and got appointed administrator and told the court that there's no will and the executor couldn't get a lower because nobody wants to get a lower in trouble dose that mean that the appointed administrator got the right to sell everything

[@billyhamid8906]

Can the Executors eviction a tenant?

[@halinapowers9885]

what happens when a person dies who was on medicaid for many years. she is not in a nursing home but gets letters from them every year that her estate must pay them back upon her death

[@StephaniePerkins-x3u]

Hey Paul, ive been watching some of your videos and honestly i have a bfew questions. So my father passed away and left a Will in the well he had left me a piece of property and come to find out the executor of the will ended up selling the property I never got notified of anything happening. What should i do?

[@zinkazoy]

I know an executor of an estate that is currently being sued in a personal injury suit. He is attempting to sell real property to a friend in a private sale for a lower amount than the property could sell for on the open market. Should he be doing this?

[@sigilfredogaleano6568]

Can a personal representative buy out the others heirs?

[@edkelly7878]

What’s the difference between executor of will vs trustee of estate, can one make the other sell the assets

[@BornToPun7541]

I live in VA, and I have a question: I'm working on my will and I have a question regarding my house. For background, Virginia law gives an executor broad powers when handling a decedent's estate. I want my house to be sold upon my death, as I have no spouse or children. Do I have to first will my house to the person I name as executor, or can he/she sell it while it's in probate by virtue of his/her executor powers? I want to make sure the house gets sold easily and legally but I don't want to be redundant.

[@mettamorph4523]

Your executor can avoid probate if you create a revocable trust. Put the house in the trust. That's called "funding the trust". The house deed will say the trust name instead of your name.

[@jasonbreding7905]

My wife’s mom was the executor of money left in a trust for my wife and her sister and her half sister … long story short the trust is empty is what she is told by her mom … she needed tge money

[@jasonbreding7905]

Also before she said it was empty she said she did it so my wife would get it all and there would be plenty on money … now last year she told my wife she is leaving nothing zero

[@james.r.dennis5093]

Can a executor take every thing and can a none executor take belongings with out consult

[@petarutty-southwell644]

I am appointed as Trustee of a Trust that a cousin set up for her son with MH issues. The Trust is empty at this point. The trust is to be funded by the residual funds from the Will. The deceased had property overseas and bank accounts. The executor has not shown me the list of assets that she listed, but she said she did not list all of the assets, including the house and bank accounts overseas. Can I sue her or do anything?

[@lukeduke51]

Hey Paul am I entitled to a copy of the will or trust as 1 of the inheritance persons..

[@calaragazza3556]

Yes you are

[@jeffreyjanderson5862]

How

[@darlenemobley704]

Hello should the executor of the estate hire an attorney to sell the property or sell the property without an attorney. Thanks

[@maryellis1228]

yeah and the named executor has the right to sell it all if he wants to end of story it's not complicated

[@Srode1999]

Not if the will specified that certain items go to certain heirs. There could be exceptions if the assets must be sold to pay the debts of the estate.

[@laurazessi1852]

So how would one verify that after the first death that things weren't ever accounted for? Per se it being a two-part A and B trust that leaves the surviving party trustee and beneficiary with provisions on withdrawing of the principal but is to collect the income until her passing... Now because the testimony trust never gets recorded before death but is it normal for an inter vivos trust document to be recorded through the county recorders office referencing the existence of said trust recorded through deeds. If I located a joint tendency corporation date of trust and assignment of rent with an issued subparcel number all being connected to our family home what happens to the rights of said corporation that was recorded in 1998 through a joint tendency deed my parents' house had 11 deeds recorded over the last 30 years. All I know is that my dad's entire estate was left into that sub-parcel that I can't seem to get any information on he also was a president of two personal corporations as well as held two separate contractors licenses. As far as I know there was talk of a mortgage corporation that is impossible to find any information on. My two siblings named as code executors in the will have been appointed only on my mother's estate into my knowledge nobody has been appointed on my father as when I showed up in court the case was withdrawn and is still pending. My mother passed in January of 2020 and less than 7 Days of her passing there was four to six quit claim deeds submitted on that sub parcel number and the only place that I get that sub parcel number from is the parcel number that's listed on the corporation deed of trust as well as the personal number I have from the copy of the trust that I had to purchase from my dad's financial advisor who is giving me no information besides allowing me to purchase the trust documents yet he took the guardianship and the important retirement/business documents out and his last word to me was if my siblings aren't communicating with me to take em to court. The issue is I've tried to exercise my rights information I submitted a de-154 on my mother's petition to administer his estate but somehow I am now being told through an email that my ex-party objection to my siblings petition to administer my mother's estate and the request for limited authority the production of trust documents verification of trust assets as well as an accounting and inventory was being requested was I informed that my objection was premature and the record of accounting was also premature as the trustees were just appointed that day. The response to my father's stated (I submitted the same letter in both cases) my father said that it was a petition for spousal property only but that I could initiate the proper trust proceeding in request the documents there. I resubmitted a petition against my siblings and the trust as that's what I believed I was supposed to do and ever since then I've been waiting for a court date. They changed the court date to sooner and it's vastly approaching and I know I haven't filled out the correct paperwork but I don't know what I need to fill out ultimately there's a bank account number that's not been accounted for but has since been removed or closed at the very least I need to account for it so I need to subpoena the documents I don't know if I'm at Liberty to do so. Where should I be looking in what should I be most concerned about as it's been impossible to locate a lawyer that understands my mom was unable to change any part of that trust once the first person died, I've since been told that my brother was labeled as payable on death on all my mom's accounts so how do I get the judge to compel them to furnish me with proof not leaving the burden on me as again I have no idea what they've done but I know that my dad was limited on his information he gave out with his business dealings none of us fully knew what he had and my mom had no idea about the outside world his finances or the businesses all she knew is that she would never leave because she would never be able to make it on her own that as much as I want to say my parents had a loving relationship at the end of the day my dad told me my mom was at $20 bet. I'm almost scared to look for their motives on most of their actions but no enough to know they kept me away from my mom started a huge argument attacking me in a drunken rage saying horrible things about my daughter who was just born premature and receiving SSI (this is my third child the first two have medical issues on top of high health risk due to prematurity as well as family history. I almost feel like somebody has been receiving some sort of benefit or using my children under that maintenance and support line and want to say it's possible it has something to do with the corporation because that's the only thing that makes sense in my head as to why my siblings were so upset with me after my father's passing and that's why my brother attacked my daughter in innocent child infant at this point. Nothing is fully making sense in my world because in 2017 after spending some time caring for my sister who was very ill and unable to walk I found out that my baby daddy initiated Court proceedings had a restraining order against me for him and my children... To do all of this and not even inform me to lie under oath and state that I was served knowing I wasn't but continuing the relationship with me again it doesn't add up makes no sense it's like he never intended for me to find out so what would be the motive for him to do so?? My fiance has said a few things in the past years since then that at the time made no sense but looking back at everything now could have been little hints on what's really taking place as he told me one day what do you have you don't even have a family that loves you I love you I will take care of you he was begging me to come back home the home that they kicked me out of after having a hidden restraining order for 3 months. Anyway he proceeded to ask me what I had to buy a house because he had 50 g's in the bank he was laughing like mocking me but again how in the hell did he have $50,000 I quickly wrote it off as alive and kept it in my memory bank now fast forward back to when my dad died and right after my brother blew up on me my siblings called me over to my parents house and wanted me to come alone knowing that's not going to happen as I was instructed to go to my dad's funeral alone as well and everyone else got to bring their families for support and it's kind of been like a fight between these two families me being stuck in the middle so I found it very hard trying to please or please anyone because it's quite frankly neither size are ever satisfied. Needless to say I showed up of course with my better half who in turn jumped in the truck with my brother which is a big No-No I mean he was given direct orders before we even got there but when we pulled up my ex-boyfriend was there who just so happens to be a lawyer and hook line and sinker I guess we both fell for it before you know it we can't get a hold of them and by the time my baby daddy answered the phone my brother was passed out on the floor that made me lose my s*** the fear of not knowing what was going on and knowing that emotions or extremely unmanageable I called my mother-in-law had her pick me up rush to where they were as my sister boyfriend and my brother the other one we're on their way to get my brother that was ko for some reason I thought there was going to be a big fight but the brother who can't stand me at the moment for being with my baby daddy was saying thank you to him and they were trying to carry him to the car. I went home and that was the beginning to the ending of my relationship with my family and ever since then I've been nothing but lied to regarding the trust it's assets and my rights to accounting. After my father passed away my ID went missing for the better part of four months and then popped up one day in a rob pocket that I've worn 100 times furthermore my brother gave me my father's robe one of them anyway that he used to wear when we were kids that is the only thing that I've been given as the rest of them have gotten cars motorhomes boats jet skis and apparently the businesses and it appears the corporations have been dissolved again I can't get any lawyer to help me not even with advise with where to go from here. I can't tell you that I finally did get a hold of their attorney who in turn seems surprised I was calling an informed me he was not dealing with the trust and was told it was done and dealt with already when I asked him by what attorney he told me Earnest Anderson which is a disbarred attorney and just make things more complicated we found out that my dad was an illegal immigrant about 2 years before he died so the secrets are endless and the answers are short I'm trying to piece together a puzzle I don't even know what the pieces look like and wouldn't recognize them from Adam. Please help me with any advice that you can as a friend not a lawyer please [e-mail]

[@JT_70]

This is the longest comment I have ever seen posted to a KZbin video! Far too long for most anyone to want to read it. You should be talking to an attorney.

[@Pcj74049]

Did the sister talk and sound like that ?

[@AlbertPacaj-l2z]

Podpálil bytovku aby sa zvýšila cena 😮

[@ford334]

People don't know how to do the right thing no more in this world today. Greedy self in titled People....

[@John-qw4mx]

Some one

[@maggie-iv6ot]

Uh oh

[@nidasalvador9705]

Sorry I need my assets from my inlaws n my husband than u