Is it legal for an executor of an estate to sell timber from estate property and then to use this money to remodel the primary and only estate residence?
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Is it legal for an executor of an estate to sell timber from estate property and then to use this money to remodel the primary and only estate residence?
Note, the executor intends to buy the property from the heirs; the executor is a sole executor and is 1 of 4 heirs.
Asked on December 31, 2012 under Estate Planning, Georgia
Answers:
Victor Waid / Law Office of Victor Waid
Answered 11 years ago | Contributor
Question. If this is a trust, Does the trust provisions restrict the use of the timber for asset enhancement? If not, then whether their is a trust or not, you remaining heirs may want to consider filing a petition for waste of assets, as the executor or trustee have duties to preserve asset value. Obtain probate litigation counsel to bring an action for waste against the executor, and to be able to charge his share of the estate for the waste comitted.
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