Two questions maybe someone can answer:
1. Father in law recently passed. A family trust was set up years ago to go to his kids. It has not yet distributed. I was told maybe if lucky by the end of the year. Do I report that on this years form? Do I understand correctly it is not my husbands until it is distributed between the children? Next year I know it is yes. At that time I will list. How can you determine its worth? It looses about 40% or more just to transfer generations. Taxes and fees cannot be determined til complete.
2. Mother in law is on hospice and is not likely to survive til the New Year. She signed the house deed to the boys when diagnosed with cancer but my understanding is it is still her home until she passes. Is this an asset I would need to list this year? I am guessing not til next year as well. What if she passes between now and being accepted into school.
Do I need to disclose these assets under special issues?
Safe to assume even if she got aid next year it would not continue.
CSS conversation about other questions said information only as it pertains to date filed.
Any help would be great. Daughter is applying to top tier and ivy. I don't want these issues to become a problem.