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?
2 Answers from Attorneys
You need to hire and consult with an Elder/Probate attorney for those significant concerns. Mary Hoeller, R.N., J.D. 317-633-4002
See the lawyer who opened the estate originally.