Wednesday, August 10, 2011

Irrevocable trust Questions...?

The trust says that bequests under the will may be paid from the trust after taxes, funeral and burial expenses and debts, but only if the executor of the estate requests that such amounts be paid. This requires the following: (1) the trust has sufficient funds to pay taxes and debts of the estate, and funeral expenses, and does, in fact, pay those amounts; (2) the executor of the estate requests that the trust pay the bequests from the trust because the estate does not have sufficient funds to pay the bequests; and (3) the trustee agrees to pay the bequests from the trust ets (note the word "may" in Paragraph 2). This could happen, but only if your uncle agrees.

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