Please ignore if this is duplicated. My first attempt hasn't shown up after 4 days. My father recently died and I became a successor trustee to his trust. I don't yet have all the trust details, but it was the type where he used his own social security number as the tax id and was the sole trustee for his own benefit before he died. I'm trying to understand the tax implications of selling some of the assets to invest in income producing assets. Do the assets in the trust get a new value as of the date he died like the assets outside the trust? When I asked our lawyer, she said not to worry about it, the estate was too small for tax. Am I even asking the right questions? Is more information needed to even get the right questions asked? Thanks for any advice you may offer.
-- George
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