My 81-year-old mother lives in a continuing care community. She is bipolar and sometimes has questionable judgment. The ba...Read more
Yes. It sounds like your brother is both executor and trustee. As such, he has responsibility for the property in your parents’ estate and trust. Unless the wills or trust impose some restrictions, your brother must decide how to distribute the assets, which he can do either as they are or as cash. This comes up with both real estate and stock and other investment holdings. It often makes sense to liquidate all the holdings and distribute the cash, especially with respect to real estate. Otherwise, the heirs own the real estate together and have to manage it together, which may not be in anyone’s best interest. That said, it would be wise for your brother to consult with all the heirs to make sure his decisions meet their goals and wishes, if possible.
For information about an executor’s duties, click here.