What is the name of your state? california
1) Is there a time limit that a decedent's estate account can remain open & funded? Is there a time limit on when the assets must be distributed? Is there any downside to letting things ride?
2) If interest reinvests, do beneficiaries still receive K-1s on the income or does the estate pay the tax on it at the trust tax rate?
3) Can interest be distributed at any time without restriction? Or if it must it be distributed yearly, can it be on a fiscal calendar?
Thank you very much for your time.
1) Is there a time limit that a decedent's estate account can remain open & funded? Is there a time limit on when the assets must be distributed? Is there any downside to letting things ride?
2) If interest reinvests, do beneficiaries still receive K-1s on the income or does the estate pay the tax on it at the trust tax rate?
3) Can interest be distributed at any time without restriction? Or if it must it be distributed yearly, can it be on a fiscal calendar?
Thank you very much for your time.