Indiana  |  Wills and Trusts

Legal Question

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

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?

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