QUESTION
Does co trustee for living trust open one up tax liability?
Asked on Apr 05th, 2021 on Trusts and Estates - Florida
More details to this question:
I have durable power of attorney for 96 yr old Mom in Fla. but funds are in living trusts and she is trustee so I have no access currently by Fla statute. Now I may be named co- trustee. As Ny state resident does this open me up to income taxes on her investments?
2 ANSWERS
Ancillary Probate Attorney serving Miami, FL
at
Stephen R. Garcia-Vidal, P.L.L.C.
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Your mother can amend the trust. Contact me at sgarciavidal@garciavidallaw.com or 305-283-4785. I do not know about the NY tax question. Thanks.
Answered on Apr 07th, 2021 at 5:57 AM
Ancillary Probate Attorney serving Miami, FL
at
Stephen R. Garcia-Vidal, P.L.L.C.
Update Your Profile
Your mother can amend the trust. Contact me at sgarciavidal@garciavidallaw.com or 305-283-4785. I do not know about the NY tax question. Thanks.
Answered on Apr 07th, 2021 at 5:13 AM