Legal Question in Wills and Trusts in Michigan

I am trustee of my deceased Mother's estate and I just sold her house . Can I disburse the funds now, or do I have to wait until the trust dissolved? Also do we have to pay taxes on these funds?


Asked on 10/10/12, 3:38 pm

1 Answer from Attorneys
John Tatone John R. Tatone & Associates PLC

You could dispurse funds, but it may be prudent to keep some in reserve to complete the final administration, such as paying the deceased's bills. Generally, there will not be any taxes upon the real estate sold. I need more information to help you, such as the amounts involved and the outstanding bills, as well as a copy of the trust to determine the conditions to terminate. Please contact me to discuss in more detail at 888-988LAWS (5297) or [email protected]

Read more
Answered on 10/15/12, 8:37 am


Related Questions & Answers

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