Legal Question in Wills and Trusts in California

I inherited a brokerage trust account. Can this account be changed to an individual account without any tax consequences?


Asked on 9/28/10, 1:32 pm

1 Answer from Attorneys

Aaron Feldman Feldman Law Group

To answer your question would require a bit more information.

When you say you inherited the account, how did you inherit the account? Was it in a trust? Were you named as a successor/survivor on the account? Or was there a formal probate with a Court order? There is a process to transfer an account and it is pretty simple, but it depends on the manner by which you are inheriting the account. You should meet with an attorney who can review all of the relevant documentation and give you a specific answer to your question.

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Answered on 10/03/10, 4:25 pm


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