Legal Question in Wills and Trusts in California
My sister is the successor trustee of my (deceased) parents living trust. She didn't sell their house for two years after my mother died, and has still not distributed all the funds or rendered an accounting. She says she cannot make final distributions until we provide our Social Security #s. Is this true? I don't trust her and would rather not share that information.
Asked on 2/14/15, 12:48 pm
1 Answer from Attorneys
Len Tillem
Tillem McNichol & Brown
Typically the trustee needs Social Security Numbers because the trust income that is distributed to the beneficiaries is typically deducted from the trust income tax return - you each pay the tax on the income instead of the trust, as the trust pays tax at a higher rate than you do.
Answered on 2/17/15, 9:07 am
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