Question: Does our trustee need to file a tax return for 2021 for our irrevocable trust established on Dec 17, 2021? The only assets in the trust are our house we are still living in and some [...]

Question: I live in New Mexico and am the sole trustee of a trust created in Colorado which is also where over 90% of the trust assets are located. I am paid compensation. To which state do I owe [...]

Question: I’m the beneficiary of a trust left by my husband. The investments in the trust include long- and short-term losses that could offset capital gains in other investments I hold in [...]

Question: Dad died in 2021 in Florida. He was the grantor of a revocable trust and I (daughter) was the trustee. My understanding is that upon his death, it became an irrevocable trust. When he [...]

Question: We already have an estate plan set up with a revocable trust. Roughly 50% of our liquid assets are in regular and Roth IRAs; we have been moving some funds from our regular to Roth IRAs [...]

Question: I sold my house in December 2020. It was the only thing in my irrevocable grantor trust. Do I have to file a 1041 for 2020? Response: Technically, yes. Practically, perhaps not. Either [...]

Question: Long ago, my parents created a family trust which required creating a survivor trust, credit shelter trust and QTIP trust upon the death of the first of them. One of them died. The [...]

Question: A final income tax return was filed for my parents’ trust in 2015. In 2021 the trust received income (approximately $2,400) from a claims settlement along with a 1099 . Should I [...]

Question: In 2009, I developed seizures. I had a typical trust that when mother died my sister and I were to be co-trustees. In 2015, I was told that if the seizures continued I would only live [...]

Question: I have a family trust question that I’m wondering if you might be able to shed some light.  My sister’s husband, George, currently 73, is the beneficiary of a trust that was [...]