Legal Question in Wills and Trusts in Illinois

trust account for estate

I have just finished closing my mother's estate and all of the monies from her assests are in an estate account. Her trust states each of her 4 beneficiaries get $xx a year. what do I do now? Do i set up 4 accounts, one for each beneficiary? What do i call the accounts? ( the estate of ( the deceased) ?)


Asked on 3/20/07, 10:07 am

1 Answer from Attorneys
Jeffrey R. Gottlieb Law Offices of Jeffrey R. Gottlieb, LLC

Re: trust account for estate

The trust needs to be read carefully to determine how to set this up and how to administer. There are income tax implications to consider as well.If you had an attorney representing you as executor you should consult the attorney. If not, you should consider hiring one.

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Answered on 3/20/07, 10:17 am


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