Legal Question in Wills and Trusts in Ohio
Type your question here...Both my parents passed away two years ago and I was left as trustee and both my wife and I are living in tthe house. we have been taking care of the estate my question is how long can we live there?
3 Answers from Attorneys
The answer to your question depends on the terms of the trust.
I agree with attorney Schmitz; you need to review the trust language. Usually, there will be fairly explicit terms regrading distributions of assets and to whom (beneficiaries). If this is not clear from the trust document, and if you have further questions, you should bring the trust to an experienced estate planning attorney for a consultation.
I agree with the previous answers that your answer depends on the terms of the trust agreement. Do you have a copy of the trust agreement? I do recommend having it review by an attorney to make sure you are abiding by the terms of the trust and have fulfilled all your obligations as trustee. If you have further questions, please contact me at http://www.socrateslegal.com.