luvmybabes4ever
New Member
My mother's will states the following:
All the rest, residue and remainder of my property and estate, both real and personal, including my interest in premises -------,ny; -----,ny;and -----,ny I give unto my Trustee, herein named, IN TRUST NEVERTHELESS, for my son --- ,......
Four other specific property gifts were made before this line. The will indicates that all estate taxes shall be paid from principal of residuary estate.
Now once cash is used up if a propert is the next to go, where will the estate taxes be paid from? Do the properties specified above make up the residuary estate or will all heirs be affected?
Please help. I am losing my mind with this because my brother has told me I will have to take out a mortgage on the propery I am getting to split the taxes with him.
All the rest, residue and remainder of my property and estate, both real and personal, including my interest in premises -------,ny; -----,ny;and -----,ny I give unto my Trustee, herein named, IN TRUST NEVERTHELESS, for my son --- ,......
Four other specific property gifts were made before this line. The will indicates that all estate taxes shall be paid from principal of residuary estate.
Now once cash is used up if a propert is the next to go, where will the estate taxes be paid from? Do the properties specified above make up the residuary estate or will all heirs be affected?
Please help. I am losing my mind with this because my brother has told me I will have to take out a mortgage on the propery I am getting to split the taxes with him.