Trustee Solutions – Multiple Beneficiaries of Real Property

[Music] So this method of time where a trustee is the trustee of a trust that owns real property such as a house or a cabin or vacation home and there are beneficiaries of that trust who ultimately will inherit the value of that property and the reason I say the value of that property is it's probably not a good idea to distribute that asset let's say a house out to six different beneficiaries because what uses it to them when it comes out to them is six different shares on title to the deed so the better option is to approach the beneficiaries if you're a trustee and ask them hey guys what would you like me to do my proposal is that we sell the asset liquidate it and then I can distribute cash to each one of you and you all can move on with your life most beneficiaries are going to say yes to that if you get a beneficiary that says no well then you just petition the probate court with what we call a petition for instructions and ask them for an order to approve you as the trustee selling the asset so that you can distribute the cash out to the beneficiaries so those are the kind of two basic approaches to dealing with real property when it needs to go out to beneficiaries either get agreement from the beneficiaries so that everyone agrees the property will come out you want that in writing or if somebody doesn't agree you can go to court and a judge will order it Albertson and Davidson is here to help you fight for your inheritance check out al devlog com for our complete library of helpful legal videos and articles from your favorite California trust and we'll litigation law firm Albertson and Davidson LLP.