Mom died...had trust....now what??

What is the name of your state (only U.S. law)? California

Hi,
My Mom just passed away. Everything is in an account with an investor. No property, etc. I am the trustee. What is the procedure to close the trust and disperse the funds to my sister, brother and myself? Do I need a lawyer or can I do it myself?

Thanks.
Sheila

If you are the trustee, then you can act as the trust says. If you can't understand the trust document, you should see a lawyer. There may still be estate taxes depending on the size of the trust and other assets of the deceased and previous gifts.

Sheila,
How large are the assets? If small (under a $million) you should be able to distribute yourself. Talk to the "investor" to see what requirements are needed to liquidate the assets. Remember that all income in the Trust will require that taxes be paid on that income. If this is a very simple situation, you can disperse the assets almost immediately. Did Mom have any liabilities (owe money)?

If you are unsure of the Trust instructions, get an appointment with an attorney.