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Author: tullyfool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 123155  
Subject: Interest paid to Estate Date: 2/2/1999 8:59 PM
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My father-in-law passed away in 1997. He left my wife as Executrix to his estate & a lawyer to handle the FINER points. Well the lawyer wasn't all that much help & we did most of the work ourselfs. The Estate had enough money that it earned over $5000 in interest while waiting for the Estate to close(it finally did in December 1998). There are five(5) siblings who shared the inheritance equally. We have received 1099-INT statements for the Estate Savings account. The question is are each of the siblings responsible for 1/5th of the interest paid? We think that we have to let everyone know that they are on the hook for their 1/5th of the interest earned in 1998.

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