well, after over half an hour on the phone from nz to calif this morning i find out new info on closing my moms 'living trust'.
the lawyer told me (no one told me this before btw) that all i need to do is declare in writing to the trust asset holders that as the trustee the trust is now closed and all future income should show in my SS#. i think as it was a 'living trust' in effect it ceases to exist as of moms passing. therefore, after i pay the g'kids, all the assets become mine and i am responsible for the taxes on them. not estate taxes as it is well below the amount at which you even have to file an estate tax return. i dont need a lawyer just a tax guy, which i have.
he told me i need a new estate tax number. i dont think i do. i intend to file a personal tax return (lower taxes than on an estate, eeeeeeek, by a heap btw) and pay the due taxes and penaltys on that for 2005 and beyond.
anyone with ideas on any of this? any questions? having more brainwaves today than i really wanted in the south pacific, jeanne