As a trustee and executor of a trust, can I "settle" the financial portion of a trust on my own?

5spice · ‎August 11, 2019

regarding settling the trust as an executor: I have gone through the legal aspects of informing heirs regarding the trust, and assuming that there are only liquid assets, can I just make out checks to heirs and will I be able to do the rest with turbo tax? I guess I'm looking to know if I can do it myself in terms of the financial aspects. I have an attorney but am concerned about the financial part, i.e., distributions.

If the answer is no, what should I look for in terms of getting help?

thx

Anonymous_ · ‎August 11, 2019

@5spice wrote:
If the answer is no, what should I look for in terms of getting help?

You should definitely seek legal counsel (assuming you have not done so already) since you definitely have liability to the beneficiaries in your capacity as trustee.

Check the link below for an estates/trusts attorney in your area, quite a few of which should be experienced in preparing the requisite documentation including an income tax return for the trust, if necessary.

https://www.avvo.com/