Our father passed away July 2006. He was carrying the note on two separate pieces of property, which is handled through a bank. In his Trust everything was split equally between myself and three other siblings. We all became equal beneficiary's of these notes..My two brothers are co-trustee's and plan to keep these notes in their names only. My questions are..Can they do this? Is this the correct way to do it? Or, being we all four own the notes should they be put in all four of our names with the bank still handling the payments with once a year disbursements and 1099's to each of us at the end of the year for tax purposes?
Thank You
Thank You
