I had to become the voluntary administrator for my deceased mother?s estate because she left no will.
The estate was set up to get unclaimed funds that I found that my mother had in NY, years after her death.
The funds were from shares of stock in a life insurance company that she had a policy with for a long time while she was alive. The policy, which was small, was cashed out, closed and spent on her primary residence in order for her to qualify for nursing home assistance.
The funds that I finally received was split between myself and my deceased brothers children. This took place in 2017.
We were the beneficiaries. The total amount was $6500.00 which we all needed and was a blessing.
I attempted to do my taxes and read that I may have to pay taxes on the estate as administrator.
I am not sure what forms that I have to fill. It is very confusing even though it was a small simple estate. I don't have alot of money for an attorney or tax consultant.
I have to pay taxes on the money my mother would have wanted my brothers children and myself to have. Need Help.