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The grantors of the trust are deceased. There is only a checking account in the trust. When closing the trust is the money going to the co-trustees taxable?
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Additional facts are needed in order to answer this question. A review of the trust is necessary, as well as the amounts involved, e.g. I recommend sitting down with an attorney or other tax professional who can review the details and advise you.
Answered on Jun 01st, 2021 at 12:40 PM