[WSBARP] Trust Administration - Conflict

[Ron Housh]

Trustee question.  Assume H & W die leaving family home in trust with direction to the successor trustee to sell the home.  Assume successor trustee is son who has 5 brothers and sisters.  Son is also an attorney.

 

Trustee son has interviewed 4 real estate agents – but has not yet signed a Listing Agreement.  Trustee son then tells the other 5 brothers and sisters he hopes to be given a chance to buy the home.  Trustee son has not made an offer and has not indicated any definite plans as to if and when he would make an offer.

 

In your view can trustee son continue to act as the trustee – at least with regard to the listing, marketing and sale of the house – in light of his stated desire to be given a chance to buy?

 

Could trustee son continue to act if all 5 brothers and sisters agree in writing that is OK?  

 

What if only 4 of the brothers and sisters said OK, but one said “No – I am not comfortable with the trustee acting as the seller while telling us he may want to be a buyer”?

 

Thanks for your thoughts.

 

Ron

 

 

 

I AM TYPICALLY IN THE SEATTLE OFFICE ON TUESDAY AND THURSDAY AND IN THE MOUNT VERNON OFFICE ON MONDAY, WEDNESDAY AND FRIDAY 

 

Ronald G. Housh, P.S.

Attorney at Law

 

Seattle Office:

1420 Fifth Avenue, Suite 3000

Seattle, WA 98101-2393

Phone:   206-381-1341

Fax:        206-464-0461

Email:     <mailto:ron at housh.org> ron at housh.org

 

Mount Vernon Office:

21411 Bluejay Place

Mount Vernon, WA 98274

Phone:  206-235-2459

Email:    <mailto:ron at housh.org> ron at housh.org

 


 

 

 

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