One solution would be to give each beneficiary half of each house. By transferring the deed of the houses into the joint names of the beneficiaries, the beneficiaries will each receive an equal amount. But it also will require the beneficiaries to jointly own the properties moving forward.

Can you divide a trust?

A ‘trust split’ is a process of dividing the assets of a trust (generally a family discretionary trust) into a number of smaller sub-trusts to enable one group of beneficiaries to control certain trust assets and another group of beneficiaries to control other assets.

What happens when real estate is sold in a trust?

When assets, including a piece of real estate, are sold while inside a trust, the trust itself will report the sale. You and your brother effectively inherited the home when your mother died.

How are assets divided in an A-B trust?

The assets can also be split between the two sub-trusts. How do I divide up the trust property in an A-B trust after the first spouse dies? Successor trustees are advised to seek assistance from tax advisors and an experienced attorney when dividing assets in a trust into sub-trusts.

Is it taxable to sell a house in a trust?

Inheriting a home through a trust usually simplifies the selling process, until you consider capital gains taxes. Q: I need some advice about selling a home held jointly in a trust in my name and my brother’s name. This was my mother’s house originally and she has since died. The house is completely paid off and we want to sell it.

How does a trust distribute real estate to beneficiaries?

For example, when a Trust distributes real estate to beneficiaries, then the Trustee would sign a deed and file that deed with the county recorder’s office. Of course, the real estate can always be sold and the proceeds distributed to the Trust beneficiaries.