Legal Question in Wills and Trusts in New York

Re: Living Trusts

The successor trustee transfers the property in accordance with the terms of the trust agreement.

Re: Living Trusts

You would transfer the property under the terms of the trust. The trust would then have to file a final return.

Mike.

Re: Living Trusts

I agree with both Mike and Norman, that the trust document controls when and how the assets are distributed. If the deceased trustee was also the grantor and holder of the life estate, the document normally names a successor trustee who, upon taking office as trustee, has the responsibility of carrying out the terms of the trust. If this does not completely answer you question contact mke directly.