Tax Law (Questions About Taxes)/Trusts

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Question
My grandfather left a trust for me - it will be paid upon my Mom's passing (she's trustee.) Question: where should the profits from the investments of the trust money go? My Mom receives a dividend check monthly and keeps it in her personal checking acct. Is this money hers (as the trustee)? Or does it eventually go to me as part of the trust?

Answer
I would have to read a copy of the trust document.

Was the trust set up before your grandather passed? Or as part of his will?

You can get a copy of his will from the local probate court.

But the trust document cold be secret.

When dI'd grandfather pass?  How old are yiu?

Tax Law (Questions About Taxes)

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Tax and general business including hospitality related (hotel mgmt degree and experience in industry prior to obtaining ms tax and cpa).

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19 years cpa. ms tax. NOTE: My discussions are only a general information and do not constitute tax advise without entering into a specific agreement and executing an engagement letter; This free chat is nothing more than general information and should not be construed as tax advice nor does my response or replies imply an agreement to provide client specific advice or other guidance for purposes of avoiding IRS tax or penalties and should not be relied upon without your own validation and confirmation of the how the discussion may fit your facts... Not having all the facts and/or not having a direct client relationship prevents me from providing the most accurate replies as possible and I highly suggest using a local CPA to provide you with written advice and guidance. Taking matters into your own hands is much akin to trying to land an airplane without a license. It is easy to FLY a plane, but LANDING is when critical experience is key. In short, caveat emptor; do your homework and don't just rely on free chat board advice anywhere, anytime.

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