Legal Question in Wills and Trusts in New York
My husband recently passed away, we both did have a will and trust, we own 2 home jointly, and he owned a business solo. Any money or property that is not jointly goes into a trust and im the sole person in the trust, with a joint signature on the trust. My question is is there a spousal deduction so the money does not go into the trust, or is there a limit on how much I can take out of the trust. I do have a attorney, that is talking way too fast, and each time he leaves it seems like I keep loosing money.
1 Answer from Attorneys
Q. My question is is there a spousal deduction so the money does not go into the trust, or is there a limit on how much I can take out of the trust.
A. It would depend on the language in the trust. Sorry I cannot give you a better answer.
Mike.
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