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Well, I may be stepping right into the arena of PLWL (Practicing Law without a License" ... but it seems the "Avoide Probate" part still holds, while any boosti...
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Points are well taken.Yet, If you never owned the building, but after two years of the trust termination, the rental had a windfall, like an unexpected payment ...
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Perhaps I didn't make it clear in my initial posting that it was a rental property.Say you owned an office building (Sch E) in your living trust. Someone sued y...
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Let's say the legal expenses (or a determined portion) benefited the trust. The issue here is that the trust has been terminated. EDOT of Section 67(e) expenses...
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Yep. Wicked stepmom stole my inheritance. Boo hoo.I think any reimbursement of legal fees down the road will be reported under the tax benefit rule in the year ...