Anyone here familiar with "Family Trusts"...? [View all]

There were only 4 of us in the Family...Dad, Mom, Sister and Me.

Family trust has 3 properties and stocks, savings... all to be split between sis and me.

Mom passed, Dad's now in hospice for end of life care...sis has POA.

We're trying to sell 2 of the three properties, still not sure if the third one will be continued as a family heirloom since dad built it. But the pipes broke during the horrible sierra winter and the whole downstairs was a gut job (asbestos in the floors and drywall too), upstairs will have the carpets ripped out and maybe even asbestos abatement there as well...but if we can refurbish, it would be nice for her kids to have some memories there...

We got an offer on one property and are cleaning out their house for sale this summer.

Question: Do we have to wait until ALL the properties are sold or the whole thing is liquidated before we split it? Or do we split it up as we go?
I don't see any guidelines in the Trust itself.

Is this a personal preference thing, where she and I figure it out together and come to an agreement?
I'm sure it would be best to see the lawyers and accountant to discuss this.

I don't know if it matters what State we're in, NV

I'm curious because I am hoping that if we sell the first property we can both have some personal relief sooner than later...I know we both have debt and personal stuff to handle.

We're holding onto savings and stocks as backup for Dad's care though most is covered by VA and Medicare...so at least we know he's going to be cared for (we just moved him to a new smaller group home with hospice 3x a week and we're already so RELIEVED at his level of care!)

Thanks for any input.(please be kind, I'm not asking because I wanna cash-in on my families' stuff)

If this is the wrong place to ask, let me know and I'll delete