QUESTION
When my mother passed she has a revocable trust
Asked on Apr 02nd, 2018 on Trusts and Estates - California
More details to this question:
My brother is trustee,he closed bank account and gave all siblings there money. He did not give copies of trust to everyone,paid income tax for 2013 in 2015.He says me and my brother who live in the home are responsible for paying filing fees.The trust states the me and my brother are able to live in home the rest of our natural lives.Trustee says he will sell home if we do not pay.Also he says he has to file taxes every year witch i dont understand cause there is no income for the estate .I need to know should i see a lawyer on this situation.
1 ANSWER
3 Awards
You also asked this question on Avvo, where it has been answered. You are correct in thinking that tax returns will not be required in the future if there is no money. A trust only has to file an income tax return if it has income of $600 or more. With no money, the trust will not be earning interest.
Answered on Apr 09th, 2018 at 8:32 AM