More details to this question:
My parents died in 2014, they left my children their house and the land it sits on in a trust to be overseen by my sister. She is supposed to maintain the house and property with the money left in the estate. The house was lived in and in good shape when they passed. She has now informed my daughters that the house is no longer livable and has offered them the total left in the trust, $10000, for it. When my parents died the land and house were worth at least 10 times that. What option do my daughters have.
1 ANSWER
To answer this question, there are many more facts that I would need to know in order to answer your question more throughly. Your children might want to consider hiring an attorney to seek an accounting of your sister as trustee as to where the money that was placed in the trust for the upkeep of the property has gone. She money left in the trust, ie. $10,000, belongs to your children and not the trustee so she can not offer to "buy" the house for the money left in the trust because this money already belongs to them.
Answered on Jun 23rd, 2019 at 3:04 PM