Lets see if you know this one..... I'm the successor trustee for a trust since 2010 since the original trustee died. With some change left in the trust for eventual close out I bought a few thousand shares of Vascepa - and let them sit there these last 6 years (there are going to be some extremely happy trust beneficiaries who thought the were getting nothing more from the trust and who are going to be very pleasantly surprised one day).
What is the best way to handle these shares to minimize taxes when the time comes to sell the shares? Do trusts get taxed at higher rates than individuals? Do i disburse the shares from the trust to the individuals when the time comes (if the company doesn't sell out) and let the individual deal with any capital gains at the time they sell their shares versus the trust having to pay for them???
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