Legal Question in Wills and Trusts in New York
My mom established a living trust in NY and is now deceased. I am successor trustee. The trust states that it retains her principal residence and taxes, insurance, repairs, etc can be paid from the trust. However, she never deeded the property into the trust. So, can the trust funds still be used to pay the bills on the residence?
Asked on 9/28/12, 7:50 pm
2 Answers from Attorneys
David Slater
David P. Slater, Esq.
The residence will have to go to probate. As long as it stays in her name, I see no problem in the trust paying the expenses as she wished. Once it is conveyed, it stops.
Answered on 9/29/12, 7:49 am
Arnold Nager
Arnold H. Nager, Esquire
Was there a pour-over will transferring non-trust assets into the trust.? If so, the property could be transferred to the trust, under certain circumstances.
Answered on 9/29/12, 5:09 pm
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