What is the name of your state (only U.S. law)? NV
My mom passed away this January(in CA) and as the successor trustee of her trust I am on a rather steep learning curve to properly distribute the assets. My questions are mainly financial. The vast majority of her assets are in stock and mutual funds. I am planning to reregister them all in my name as trustee. What is the best way to liquidate? Should I cash them all out and place in a checking account and then write checks to the beneficiaries? Does the trust file income tax returns for accrued interest and gains before the assets are distributed? Any other help in this area is appreciated.
Rick
My mom passed away this January(in CA) and as the successor trustee of her trust I am on a rather steep learning curve to properly distribute the assets. My questions are mainly financial. The vast majority of her assets are in stock and mutual funds. I am planning to reregister them all in my name as trustee. What is the best way to liquidate? Should I cash them all out and place in a checking account and then write checks to the beneficiaries? Does the trust file income tax returns for accrued interest and gains before the assets are distributed? Any other help in this area is appreciated.
Rick