David Fowler Johnson (Winstead PC): Court Construes A Trust To Allow A Trustee To Sell Real Estate And To Consider The Proceeds As Principal Of The Trust (February 21, 2023)

David Fowler Johnson, of Winstead PC, has made available for download his article, “Court Construes A Trust To Allow A Trustee To Sell Real Estate And To Consider The Proceeds As Principal Of The Trust,” published in JDSUPRA. The abstract is as follows:

In In re John O. Yates Trust, a trustee of a trust filed suit to obtain declarations on whether it could sell certain real estate held in the trust, and if so, whether the proceeds should be designated as principal. No. 04-21-00365-CV, 2022 Tex. App. LEXIS 9470 (Tex. App.—San Antonio December 28, 2022, no pet. history). A beneficiary appeared and argue that the trustee could not sell the real estate, and if it did, the proceeds should be considered income. The trial court rule that the trustee could sell the real estate and that the proceeds would be considered principal. The beneficiary appealed.

Click here to view David Fowler Johnson’s summary of “Court Construes A Trust To Allow A Trustee To Sell Real Estate And To Consider The Proceeds As Principal Of The Trust”

Posted by Nicholas Ward, Associate Editor, Wealth Strategies Journal