Vernon, NJ Estate Planning Law Firms & Lawyers

If the trustee of the trust is also the grantor, a revocable trust usually indicates that upon the death of the grantor/trustee, the assets held in the trust are distributed.  The grantor/trustee could direct that the assets are distributed to the estate, or to beneficiaries, or can remain in trust with the second trust taking over.  What happens is all dependent on the terms of the trust.

For a single person, a Will, Medical Directive and POwer of Attorney, would cost approximatley $400-$500.  If I can be of any assistance, please contact my office. 

I'm not sure if you are asking if you have to pay all of the taxes when your mom dies, or now.  When your mom dies the Estate will be responsible for paying taxes on the house until it is transferred into you name and your brother's name.  The Estate will consist of all of your mother's assets, other than the house, and the money that is in the estate will be used to pay all of her last bills, and costs associated with administration, etc.  One thing you should keep in mind, if you live with your mother, and she ever needs to go into a nursing home, the house is an exempt asset and can be transferred directly to you.