Connecticut  |  Wills and Trusts

Legal Question

Asked on: 2/23/09, 2:51 pm

trustee with conflict of interest

A co-trustee (and beneficiary) of a family estate (land valued between 5 and 50 million dollars) owns a piece of land ajoining the estate property, it belonged to his elderly mother who turned it over to him a few years ago. This co-trustee is now trying to sell the estate property to developers he found, without advertising the property (had a purchase & sales aggrement for 3,200,000, that is currently in court for breach of contract). The co-trustee also has had his brother-in-law, a capenter/building contractor involved in the dealings with the above mentioned delvelopers since day one (2006). Sotheby's has valued the property between 10 and 50 million. The co-trustee refuses to meet with Sotheby's. Under these circumstances it appears that the co-trustee is engaging in business that would certainly be seen as a conflict of interest, would financially benefit him and his brother-in-law personally, and do a grave injustice to the remaining heirs of the estate. The other (of 2) trustees is my mother (an heir), she is elderly, extremely trusting, and in over her head. I have tried repeatedly to get to her get her own attorney to over see these dealing she will not. I am a remainderman do I have any rights? Who can help me?

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