My wife is a co-trustee of a trust set up by her father to hold real estate and then divide and distribute said property after his death. My wife will be getting a fee to compensate for the considerable time and energy she has had to put into this.
Apparently, there may be more than one way to handle the fee for tax purposes. It has been suggested to us that we look into handling the fee as a cash distribution vs a "payment".
Any advice or insight into this is greatly appreciated.