Estate Disbursement

[TheMercenary]

Ok, my wife's mother has died and before she died she created a trust for all her assets. The majority of her money is invested in stocks or money markets and she was living off the capital gains each month. The will splits these stocks in half, one half for her, the other for her brother. Does anyone know if she will have to pay tax on these if they are converted to cash, or if she held them in stocks and MM until a later date and then converted them to cash would she be subject to tax at that time? Or since the ceiling for non-taxable amounts are less than 2 million, and the worth is way less than this, is she just exempt from the tax no matter what she does?

And there is a house. Worth about 250k. It is on the market. When it is sold is the money from that sale taxable?

Anyone out there with experience dealing with assets from an estate?