Legal Question in Wills and Trusts in Maryland

trust fund

I have inherited a large trust from a friend, to be paid at $40,000 per year. The will went to probate but IRS and MD are asking for their pitance of $15 million dollars. Plans are being made to pay most of what is owed, the balance on payments over 15 years. When should the trust fund be in place and when should the $40,000 per year begin paying me? The friend that passed away died in January of 1998.


Asked on 1/21/02, 7:28 pm

1 Answer from Attorneys
G. Joseph Holthaus III Law Offices of G. Joseph Holthaus

Re: trust fund worth millions after IRS

The matter apparently rests entirely within tax law. An estate of the size that you describe should pay over to the trust corpus and fund the annuity that you describe with little encumbrance. Debts against the estate are at issue both as against the corpus and possibly as to deminuating IRS claims. If there are tax leins then these need to be addressed and resolved. An attorney knowledgeable of tax law, liens and IRS satisfaction and accord is be advised. Please contact me at (410) 799-9002 to discuss.

Futher Notes: Without seeing the instrument under which your claim arises and an understanding of the tax matters affecting the estate, I am not able to provide a further response. A discharge of IRS claims appears to be in order; however, there may be other complications with the will or other trusts.

G. Joseph Holthaus III

(410) 799-9002

(410) 619-5918 )pager/voice)

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Answered on 1/21/02, 11:29 pm


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