Legal Question in Wills and Trusts in Michigan

I am the Trustee of my deceased mothers Trust. Her condo is still in the trust. The deed has not been transferred to me personally yet. Does the Rental income need to be in a separate account to be kept in the trust, or can I put it in my personal account?

Asked on 6/19/12, 12:20 pm

1 Answer from Attorneys

John Tatone John R. Tatone & Associates
0 users found helpful
0 attorneys agreed

I need to see the trust documents before I could provide appropriate legal advise. Based upon the limited information in your question, I would suggest depositing the rental income into the trust until the property is transferred to you. You should also use the income to make any necessary repairs to the property, pay taxes or insurance. Please contact me if you would like to discuss this matter in more detail 888-988-LAWS (5297) or [email protected]

Read more
Answered on 6/19/12, 1:04 pm

Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Michigan

Looking for something else?

Get Free Legal Advice

88953 active attorneys ready to answer your legal questions today.

Probate, Trusts, Wills & Estates Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Rahul Manchanda, Esq.Manchanda Law Office PLLCNew York, NY
Glen AshmanAshman Law OfficeAtlanta, GA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now