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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28084
Experience:  Taxes, Immigration, Labor Relations
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THE ESTATE IS BEING HANDLE BY LAWYERS ADMINSTRATOR. THEY

Customer Question

THE ESTATE IS BEING HANDLE BY LAWYERS I AM THE ADMINSTRATOR. THEY ADVISED US TO FORM THE ESTATE BECAUSE THERE IS FIVE OF US. THEY THE LAWYERS HAVE THE MONEY. BUT THE JUDGE HAS NOT GIVEN THE GO AHEAD TO ISSUE IT TO US. THE MONEY IS COMING FROM THE BLACK
FARMERS DISCRIMATION LITIGATION. MY MOTHER HAD BEEN DEAD FOR SEVERAL YEARS BEFORE THIS LITIGATION WAS FINISHED.
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

That is YOUR choice to hire an attorney to handle the estate.
As the administrator you may hire an attorney and have the attorney to keep all assets - that is generally your choice
I agree with that advice to form the estate and pass income to beneficiaries.
When you prepare form 1041 - you will attach a separate K1 form for each beneficiary.
I am not clear why you need the court order and the judge approval...
Generally as an administrator - you should have rights to receive the money - you never mention that assets were on hold - that might be because of litigation between beneficiaries or for some other legal issues - but based on your information - the money are treated as received by the estate.

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