I understand, the tax advice that I gave you is the same. There's no estate tax involved. There's never any gift tax
to the donee. There's no income tax unless the trust has net income
after expenses and makes distributions to the beneficiaries during the tax year or within 65 days after year end. Since there were no distributions to you, even if the trust had any NET income, the trust would have had to pay the tax because those are the rules
when there is no distribution.
Usually, when there's no successor trustee named in the trust, either the trustee is given the power to appoint a successor (which may be the case since it appears that his wife is now a trustee). If the money has been distributed, (which sounds like the case if it has been moved into accounts in personal names), & you haven't received your share, then clearly their is some type of impropriety involved.
There simply aren't any tax issues for you, which is why I focused on what does seem to be a problem, namely the administration
of the trust.
Is it possible that the terms of the trust continued your interest in the trust in another trust for your benefit
when the existing trust is terminated? This often happens when one of the beneficiaries is the initial trustee and the other beneficiary is not.
As far as any taxes are concerned at this point, as I stated previously, if there were any taxes to be paid, they would have had to have been paid by the trust or by whomever received distributions. So, I see where you have to be concerned about income or estate taxes personally.
Once a trust has been funded, there are no beneficiary taxes to be paid unless income is generated and passed through to the beneficiaries. There are never any taxes due on principal distributions.
Please remember to rate
my response as that is the only way we receive credit
for our work. Thanks very much for using JustAnswer.com.