Selling shares in a family trust URGENT ADVICE NEEDED PLEASE

[Kimbo]

Hi everyone,

I really hope I'm in the right place.

We have been left shares in a the family trust by my father who passed 6 years ago. The will has only now lately been tied up and finalized.

Due to family problems we have not been able to see the docs or anything else pertaining to the trust, as well as other bequests left by my dad and have decided we would prefer to sell them.

How exactly does one go about this and is it possible? A business has been run from the trust all this time as well, are we not supposed to get the shares allocated to us of the profits from this business venture?

The main question here is can and how do i sell my shares in a family trust that have been left to me in a will. Can i sell them on the open market or what is the standard procedure. The are not huge shares, only 10% of the trust which includes property values at over 40 mil 7 years ago.

I really hope someone can help, and thank you in advance for any help that is forthcomming

[HR Solutions]

Personally I would ask to see the Trust deed.
You need to find out who are the Trustees.
Who are the beneficiaries.

[Justloadit]

You require the services of a Trust attorney.
The type of advice you require is very intricate and complex for a general answer.
Effectively, the Trustees have the authority to make decisions which affect the Trust in any way, and must at all times have the well fare of the beneficiaries in the trust. Bad decisions may affect the personal responsibility of the trustees if it can be deemed to have been reckless.