What is the name of your state? Missouri...
My aunt's esatate is worth about $250,000. About $160,000 is in the form of stock with 1 one company; most of it's value is from dividend and splits over the years. She passed away and her trust states that all her assets will be distributed among family members....I am successor of the living trust and will take charge of distribution of the proceeds.
Are there any taxes that will be due for the amount of gain made over the years before her death?
I'm pretty sure I'll have to pay taxes on gains made from the time of her death to the time we sell the stock...right?
My aunt's esatate is worth about $250,000. About $160,000 is in the form of stock with 1 one company; most of it's value is from dividend and splits over the years. She passed away and her trust states that all her assets will be distributed among family members....I am successor of the living trust and will take charge of distribution of the proceeds.
Are there any taxes that will be due for the amount of gain made over the years before her death?
I'm pretty sure I'll have to pay taxes on gains made from the time of her death to the time we sell the stock...right?