yeknod
Level 3
02-09-2024
04:10 PM
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TP father died in 2024 and was still owed monthly payments from a business he sold a few years ago. The payments will still go on for 4 more years.
The new owner is willing to make the payments to his daughter. What is the best way to handle the income? Should she just open an account and put the $ in there or should a Trust be set up?
Thoughts?
Thanks in Advance!
yeknod
Level 3
02-10-2024
01:10 AM
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how do you transfer it to the beneficiary? The company paying it is willing to pay it to the beneficiary.
sjrcpa
Level 15
02-10-2024
09:52 AM
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The note is a legal document. It is part of the estate. The probate attorney should draw up the paperwork to have the note payable to the beneficiary.
The more I know the more I don’t know.
