This morning as I review estate settlement issues in my mind,
I entertain the following considerations which I consider
very important:

1) The retirement/Keo/IRA assets should NOT be liquidated,
but their ultimate owners, whether by iunter vivos assignment
or post-mortem disclaimer should convert these retirement/Keo/IRA
assets into Inherited IRA's so as to defer payment of income taxes.

2) Application for IRS tax identification numbers (TIN) should be made
for each of the four real estate trusts, 174 School St, Nantucket,
Lisbon and Konnarock.

a) rent, if any, received for any of these properties should be
reported under the TIN of the respective trust. If retained by
the trust, that rent will be taxable to the trust but non-taxable
to the beneficiaries on distribution; if immediately distributed
to the beneficiaries, such distributions will be taxable to the
beneficiaries, but the rent received will not be taxable to the trust.

b) the same rule as in a) above applies to proceeds of sale of the
properties. If retained (for example to be reinvested) by the trust
the capital gains will be taxable to the trust, if immediately
distributed with 1099 forms, it will be taxable to the beneficiaries.

3) For the predeceasing parent no federal or Massachusetts estate
tax return needs to be filed, (because all assets retrospectively
adjudged not to have been properly transferred by gifts, would
be deemed to have descended tax free to the surviving spouse.

4) for the surviving parent, federal and Massachusetts estate tax
returns should (probably) be filed. Note the "poison pill" provisions
of the wills.

5) think about this, and if you have questions, ask me while I can 
still think.