hopefully this is the board for this discussion. i am soliciting advice for family discussion.....Parents have all assets in a trust, it is set to terminate on their deaths, i will be the principle person in charge of distributing the assets on their deaths...for a few years i have been assisting Dad in making investment decisions, taking care of the trading and research, etc.my problem:my sister has asked if we can keep the trust going, and distribute slowly to her over several years (she doesn't want the arguments with her husband, who will want to splurge and spend all the money, way before they need it)my brother has twins who will both likely be ready for college when my parents die...i suspect he may want the lump sumi would just as soon have the money right away...1. i don't want to be blamed for investment decisions, should i have bought that stock, or sold another, and the potential for arguments over how much to distribute...2. there are tax implications which i don't yet fully understand...there will likely be $300-500K or more, in stocks, many of which have been held for over 40 years...the cost basis for those stocks will reset at the termination of the trust---what happens if the trust does not end, or as the money dribbles out?---how does this affect the cost basis, will it reset?3. i may want to use my share of money to start a new business.the estate will be perhaps $1-2M when my parents die...in addition to some cash and money market funds, there are stocks, another $500-600K of Real Estate: in a house and a commercial building my father rents to my sister for her shop...my parents live on a gov't pension, which will terminate on the last parent's deathit would be simpler to just terminate the trust, divvy it up, and let my sister get her store as part of her split....but...do any of the esteemed posters here have any thoughts on how to give me and my brother lump sums, and dole out slowly for my sister? (we would like her to have enough money to live on another 40 years... our family have all lived well into our 90s for many generations, we expect the same for ourselves...parents are 88, 87 and in generally good health)
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