VIC What is required if a life interest trustee sells the estate after one of the beneficiaries passes away?

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Maddz1

Active Member
25 February 2021
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Can a trustee who has a life interest of the Net Income from an estate keep all the finances of sale if a beneficiary passes away before selling? The beneficiary had approved the sale of the estate before passing.
 

Docupedia

Well-Known Member
7 October 2020
308
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719
The will should cover the treatment of income and capital of the estate. Trustees are generally entitled to reimbursed for costs incurred. Non-professional trustees generally are not compensated for their work in performing the duties of a trustee.