Recent content by SoCalQuestion

It is a California-based trust, the trustors are Canadians with green cards who have lived in California for 50 years, and the current trustee is a corporate trustee at a large bank.

In my Chapter 11, the judge confirmed my plan, which specified that my loan balance would be reduced by almost $300,000. Do I owe tax on that amount?

My question pertains to a specific distribution instruction included in my parents' revocable trust. I hope it isn' too long to be worth reading. Background: • My parents are about 85. They are frail and their brains have aged, but they don't have heart disease or any other disease. • Their...