The power of a trustee to dispose of trust assets without unanimous beneficiary consent depends heavily on the trust document itself. Some trusts grant trustees broad discretionary powers, allowing them to sell property for the benefit of the trust even if some beneficiaries object. Other trusts may require specific beneficiary consent, or even unanimous agreement, before certain actions, such as the sale of significant assets, can be taken. For example, a trust might stipulate that the sale of real estate requires the consent of all beneficiaries over the age of 18, while the sale of stocks might be at the trustee’s sole discretion. Understanding these powers is critical for both trustees and beneficiaries.
The ability to sell assets without requiring universal approval can be essential for efficient trust administration. Market conditions may necessitate a swift sale, or a particular asset might become a financial burden. Requiring unanimous consent can create roadblocks, particularly when beneficiaries have conflicting interests or are difficult to locate. Historically, the legal framework around trusts has evolved to balance the protection of beneficiary interests with the need for practical management. This balance is reflected in the varying levels of control granted to trustees across different trust structures.
