Iv'e been the executrix of an estate for 5 yrs. I have the letter of discharge dated 2011. Taxes were paid on the estates funds, the remaini...

Question

Iv'e been the executrix of an estate for 5 yrs. I have the letter of discharge dated 2011. Taxes were paid on the estates funds, the remaining monies were then transferred into 2 trust accounts, & I've been writhing checks to both benificiarys 1,000.00 a month as this was my god mothers wishes. She did not want them to have it in a lump sum. Should taxes have been filed? The attorney who handled the estate will not return my calls. Before I write the final checks I want to be sure that I've met my responsibilies. It's been a long five years. Respectfully, Lisa

Answer

It is possible that the estate may owe income taxes if the assets were large enough to generate enough interest to require a payment. Without knowing how much interest was earned I cannot answer the question. You should have been sent Forms 1099 showing how much interest was paid.

Answer

Talk to your accountant.