Legal Question in Wills and Trusts in New York

Iv'e been the executrix of an estate for 5 yrs. I have the letter of discharge dated 2011. Taxes were paid on the estates funds, the remaining monies were then transferred into 2 trust accounts, & I've been writhing checks to both benificiarys 1,000.00 a month as this was my god mothers wishes. She did not want them to have it in a lump sum. Should taxes have been filed? The attorney who handled the estate will not return my calls. Before I write the final checks I want to be sure that I've met my responsibilies. It's been a long five years. Respectfully, Lisa


Asked on 9/23/14, 2:47 pm

2 Answers from Attorneys
Walter LeVine Walter D. LeVine, Esq.

It is possible that the estate may owe income taxes if the assets were large enough to generate enough interest to require a payment. Without knowing how much interest was earned I cannot answer the question. You should have been sent Forms 1099 showing how much interest was paid.

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Answered on 9/23/14, 4:01 pm
David Slater David P. Slater, Esq.

Talk to your accountant.

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Answered on 9/23/14, 5:01 pm


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