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Trust proceeds and taxes

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persrep

Junior Member
My father died in 1990 in Pennsylvania. A Testamentary Trust (I am a trustee) was created in his will with assets throwing off interest income for the benefit of my mother until her death at which time the Trust terminates. She died in PA the beginning of 2010. The trust specifies that the assets be distributed on my mother's death to the lineal beneficiaries. While there is no Fed estate tax (other than PA Inheritance tax) due on my mother's estate due to the phase-out in 2010, is there a PA Inheritance tax due on the trust distribution amount now - some 20 years after my father's death? While I recognize the requirement to probate my mothers estate this Trust was not her property and is not listed as her asset for PA Inheritance Tax purposes. Since the trust was part of my father's will which was probated back in 1990 is there an inheritance tax due on the trust distributions? If so, how is it reported and is payment made by the beneficiaries or the Trust assets prior to distribution.

Thanks for all replies.
 
Last edited:


Dandy Don

Senior Member
Were you the trustee 20 years ago? This complex question belongs on the tax law board and/or a consultation with a local CPA or tax accountant who has experience with estates.
 

persrep

Junior Member
Yes, I became the Trustee at my father's death 20 years ago.

How do I move this to the Law Board? Moderator function?
 

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