Green card holder receives bequest from Fathers Uk will

[Fletch59]

Hello  form 3520  uses the word Trust in its boxes a lot which is confusing.  For a bequest to a Us Person from a fathers Uk estate :

In reporting on part 4  of the form   3520     Is The  Will of the deceased     'The Trust '  ?  and is the Trustee   "the executor " ?   also   If funds were liquidated by the Estate and all that was received was cash  ...is it ok to just report the cash  or must those items liquidated be itemized...thanks

[DaveF1006]

In general, a trust is a relationship in which one person holds title to property, subject to an obligation to keep or use the property for the benefit of another. The will in itself is not a trust but the executor is as defined by this definition.

You report any property you received from the estate, whether it is tangible or intangible property. In this case, you received cash so this all you would report. The IRS has no interest what property was liquidated in the estate prior to you receiving the cash.

[Fletch59]

Thank you so much for that !   David    So the Executor s name would go down as the name of the Trust on that part of the  3520 that asks for it ?   David   the executor  is  also the main beneficiary  in the will   and  he lives state side  so he appointed an attorney in the UK to deal with probate and the dispersal  of the estate    Hey i wont hold you to anything lol..but would a  3520 a   form also need to be filed  by its due date  by the  executor / the Trust or the appointed attorney ?

[pk]

@Fletch59 , while  generally agreeing with my colleague @DaveF1006 's  response, I still am at a loss as to  the actual situation.  The answer  so far is general and I would feel a lot better if you provided us some details  to make sure that you are receiving an answer  that is more tailored to your situation.  Our aim is to provide  you help sop you file a correct and compliant return.  For example I would like to know:

(a) decedent -- US person or UK person ( citizen/resident); property  bequeathed  was located in UK; are you the  full beneficiary ;  how was the decedent's wishes recorded --- will/ last testament  directed distribution etc. etc.

(b) you the beneficiary a US person

(c) was there a valuation of the assets just post demise of the decedent;  is that the  valuation at which you sold the props/assets ; are you both the beneficiary and the executor

(d) what was the total cash received  by you ( in US$)

(e) Probate was in the UK, who paid for the proceedings / taxes etc. to UK; also what about UK estate taxes 

Please provide these answers and anything else  that you have so one of us can look at the true picture .

I will circle back once I hear from you 

pk

[Fletch59]

Thank you so much..thats some detail...

Father died in Uk .    last  Uk  Will described names of Executors  and Trustee s    Will assigned property  over to executors consisting of Land, bonds and cash  to be probated and all taxes including any inheritence taxes to be paid then the residue was to be distributed to the single beneficiary ( The executor son resident in the United States)    Since named Uk executor was a US person  resident alien  living in the US  executor hired a Uk Attorney to Act for her according to instructions in fathers will    The Estate property was valued and probate was granted ,taxes were paid  before distribution to the single beneficairy  who happened to be the son of the deceased and the named executor who happened living in the united states . The valuation of the estate for uk probate was over $100,000   A claim of  Proprietry Estoppel prevented distribution   Mediation  occurred  and the estoppel claim was settled   last year and  Uk inheritance taxes were paid after a second valuation of the residual estate.......