What is the name of your state (only U.S. law)? California
My mother in law passed and had a trust and will. However some items had my husband and his sibling listed as direct beneficiaries, and have already paid out those accounts to them (a CD, a money market account and a life insurance policy.) Other items have the trust as the beneficiary. Now we find out that there is a lot of due income taxes - and there will not be enough in the trust account to cover the full amount due. Can the IRS come at us for the other inheritance income from the other accounts that were not a part of the trust?
My mother in law passed and had a trust and will. However some items had my husband and his sibling listed as direct beneficiaries, and have already paid out those accounts to them (a CD, a money market account and a life insurance policy.) Other items have the trust as the beneficiary. Now we find out that there is a lot of due income taxes - and there will not be enough in the trust account to cover the full amount due. Can the IRS come at us for the other inheritance income from the other accounts that were not a part of the trust?
