Proceeds from Sale of House in a Trust

General Q & A
1

Hi Matt & Mark, or is it Mark & Matt??

My wife’s grandparents recently passed away. They held their house in a trust. She is entitled to 12.5% of the trust as a beneficiary. I believe, from what I read in the trust, the only asset is the house in the trust.

How is this $$ taxed?

Once we know this answer, we do have a few directions in how we would like to deploy this $$

  1. Debt

  2. 6 Month Emergency Fund

  3. Down Payment $$ for a house

  4. Long term dollars in our(S) SDIRA for future plans.

We just want to make the best call for tax savings on this next step.

Thanks

P.S. You both have helped me complexly rebuild my business strategies over the last two years. I appreciate your education so much!

2

Thank you so much for submitting this question. We answered it on today’s show, recorded 3/27/24. Please check it out there and please share with your friends, family and associates if you can. Thanks again!! Mark and Mat