Legal Question in Wills and Trusts in Indiana

I am the personal representative of my fathers estate, in regards only to some financial compensation that we are beginning to receive for damage settlements for my fathers death from mesothelioma, do I need to reopen his closed estate in order to distribute these funds to my Mother,sister and myself? Or should I open another kind of trust or account for this. Will there be any tax penalties if we just cash and distribute?

Asked on 3/27/10, 1:05 pm

2 Answers from Attorneys

Mary J. Hoeller, R.N., J.D. Attorney At Law
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You need to hire and consult with an Elder/Probate attorney for those significant concerns. Mary Hoeller, R.N., J.D. 317-633-4002

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Answered on 4/01/10, 1:48 pm
Jay Rigdon Rockhill Pinnick LLP
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See the lawyer who opened the estate originally.

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Answered on 4/02/10, 8:10 pm

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