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    Judithdoe's Avatar
    Judithdoe Posts: 3, Reputation: 1
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    #1

    Jan 4, 2012, 12:58 PM
    Estate administration
    Estate administration of a trust for a deceased person.
    joypulv's Avatar
    joypulv Posts: 21,593, Reputation: 2941
    current pert
     
    #2

    Jan 4, 2012, 01:06 PM
    OK.. please ask your question.
    Judithdoe's Avatar
    Judithdoe Posts: 3, Reputation: 1
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    #3

    Jan 4, 2012, 01:24 PM
    I need to know if we can cash dividend checks which are in the estate, to pay the taxes on my mothers' house before the estate is settled. The estate is all set up correctly according to lawyer. We are just waiting to sell her house which is in the trust. Taxes due 1/31. Lawyer is not returning calls.
    joypulv's Avatar
    joypulv Posts: 21,593, Reputation: 2941
    current pert
     
    #4

    Jan 4, 2012, 01:42 PM
    No, once someone is deceased any funds coming in have to go into the estate account. The trust will pay the taxes. They usually pay them at the last minute.

    (Of course some little amounts come in; I think I put 3 refunds under $100 total into my bank for accounts I was paying anyway.)
    Judithdoe's Avatar
    Judithdoe Posts: 3, Reputation: 1
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    #5

    Jan 4, 2012, 02:33 PM
    OK, But if the TRUST only has Stocks and House in it, what are the taxes be paid with? The dividends (not enough) and will the TRUST have to sell stocks? Or will it come out of the value of the house?
    Should the dividends be deposited into the TRUST? Thus far, while my mother was in the Nursing Home, my sister and I paid the taxes ourselves.
    Can we legally rent this house out to help? This is in NYS and they have laid claim to 31% of this house (not sure when - after sale?)
    I really appreciate this information. I think the lawyer is avoiding us.

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