Recent content by Successor Trustee

Short answer: Because the financial advisor did not have a Court Order to do what he did when he liquidated the investment account and put the proceeds in a trust account. As others have said, whoever holds an asset when it appreciates has an obligation to pay the capital gains tax, and the...

Mansplaining: The financial advisor sold an investment account that did not have a beneficiary designation for a gain of $9900 over the Date of Death value of the account. The appreciation occurred while the account was in Probate, or supposed to be in Probate. However, the financial advisor...

Said shorter, the funds from the sale of the investment account should have been deposited to the Probate Estate account, the Personal Representative should have filed a tax return for the Probate Estate account, and the net should have been included in the Probate accounting, with a clean...

You're saying what I'm saying, since the financial advisor sold/liquidated the investment account while it was in Probate. It was never title to the Probate Estate or the Trust. His mistake was not putting the proceeds in the Probate Estate account. The PR should have filed a tax return, and...

What is the name of your state? Missouri Who pays the capital gains tax on an investment account that appreciated during Probate, but not at all after moving to the Trust?