It is not unusual during the course of administering an estate, to liquidate or sell property, especially if a sale is directed in the will, or if the assets are needed to satisfy bequests and/or pay taxes and/or expenses.

Maintaining property through the probate process is a common occurrence. Even when family members are involved in the management of the property, it is often important to appoint a third party with experience in property management to ensure the proper upkeep as well as the preservation of the property’s value.

The Trustee of an estate is trustee is responsible for: investing assets to obtain a reasonable rate of return; as well as making distributions to beneficiaries in accordance with the terms of the will and trust. The Trustee serves in a fiduciary capacity and must, at all times, act in the best interest of the estate.

A will is a legal document by which you designate the persons who will receive the assets you own. A will is also the instrument used to appoint legal guardians for your minor children. All too often many individuals unfortunately find out too late that a family member’s will does not carry out that person’s wishes. It is important to keep your will up to date and current with your lasting wishes.