Legal Question in Wills and Trusts in Connecticut

Both of my parents died in 2000. I was the executor of their estate. Their will

specifically named two beneficiaries. Myself and by daughter. The will stated that

I should not give my daughter her funds in a lump sum, but to dole them out only

when she needed them. The bulk of the funds were in a real estate investment

trust. Once the probate matter was complete the proceeds of the estate were

transferred to and account in my name so that the funds could be easily

disbursed. The IRS picked this up and told me I owe taxes as though the

entire amount was income from dollar one. The estat was below the threshold

for estate taxes. It is my understanding that their should have been no taxes

due on the proceeds from the estate.

What do you suggest

1 Answer from Attorneys

Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Connecticut

Looking for something else?