What is the name of your state (only U.S. law)? Oregon.
My father and mother had a Revocable Living Trust. My mother passed away 8 years ago and her Living Trust was converted into her Family Trust which held her stocks, and named my father as trustee, and my brother and I were listed as co-trustees upon dad's demise. Now my father has passed and his Living Trust has been converted to his Family Trust with a new tax ID# which named my brother and I as co-trustees. Dad's Living Trust held his stocks, real estate, and all other tangible assets, except for his car.
What do we need to do disperse the assets of these two Family Trusts between my brother and myself? It doesn't seem difficult to change the title on the 2 homes he owned, as we were named in the will and trust documents. Dad's stock broker (CFP) is being helpful as he has converted dad's deceased IRA to my brother and my beneficiary IRA's.
What documents do we need to disperse the remainder of the assets in Mom's Family Trust and Dad's Family Trust? What recording if any is necessary, besides the real estate deeds?
As dad died in late December, when are his taxes due? Dad's estate was under 1 million so I don't think we will be responsible for an inheritance tax here in Oregon.
Thanks very much for any info you could provide!
My father and mother had a Revocable Living Trust. My mother passed away 8 years ago and her Living Trust was converted into her Family Trust which held her stocks, and named my father as trustee, and my brother and I were listed as co-trustees upon dad's demise. Now my father has passed and his Living Trust has been converted to his Family Trust with a new tax ID# which named my brother and I as co-trustees. Dad's Living Trust held his stocks, real estate, and all other tangible assets, except for his car.
What do we need to do disperse the assets of these two Family Trusts between my brother and myself? It doesn't seem difficult to change the title on the 2 homes he owned, as we were named in the will and trust documents. Dad's stock broker (CFP) is being helpful as he has converted dad's deceased IRA to my brother and my beneficiary IRA's.
What documents do we need to disperse the remainder of the assets in Mom's Family Trust and Dad's Family Trust? What recording if any is necessary, besides the real estate deeds?
As dad died in late December, when are his taxes due? Dad's estate was under 1 million so I don't think we will be responsible for an inheritance tax here in Oregon.
Thanks very much for any info you could provide!