My wife is the trustee for the living trust from the death of her sister. My wife's niece and nephew have lived in her late sister's home since her death 18 months ago. My wife wants to liquidate the house and distribute the proceeds of the sale among her sister's children. Will there be a taxable event in the form of capital gains as a result of the sale? If so, are there any strategies to avoid these taxes before the house is sold?
- posted
17 years ago