Thank you Tax Counsel, all good thoughts.
My strategy is to distribute as many of the income generating assets as possible as soon as possible for one of the reasons you mentioned, i.e. the steeper trust income tax rates. That includes distributing as many of the securities as possible as soon...
No, my question is meant to find out if there is any specific legal document or process that would be in my interest to have an attorney provide before I make this distribution. There is nothing in the trust document that requires anything like that but I want to be sure that I am not missing...
Yes to both.
Thank you, that is good advice. And yes, my plan is to transfer all of the securities in-kind. The beneficiaries can then do as they please with them. At my request, the beneficiaries have already opened accounts at the respective financial institutions and supplied me with the...
Thank you army judge, that is interesting information.
However, there is currently no issue with the timing of the distributions, and in fact, I am intentionally trying to expedite them and have both a personal and a fiduciary interest in doing so along with the other beneficiaries since I am...
Thank you but I have read the trust document many times, had lawyers read it and provide specific services related to it in the past and I believe I understand it very clearly. I have been familiar with the document for many years and had a lawyer do some work related to it about a year or so...
My mother passed away recently. All of her financial assets were titled in the name of her living trust when she passed.
There are financial accounts at several financial institutions that hold stocks, bonds and cash equivalents. This would not be a final distribution as there is also some...