I am a Michigan resident and my mother recently passed away. I have been willed a 1/3 of her estate. There is a Discretionary Trust which was set up in 2010 while I was a resident in a Nursing Home. I have recently moved into independent living, but my mother could not get to her law office to change my trust status so I believe that it stands. Her financial advisor, however, called me yesterday and told me that my 1/3 of the life insurance and my 1/3 of the mutual funds will be sent to me directly in check form. Are either one of these taxable in any way? Thank you for your attention.