Question: My parents and sister bought a house together in January 2024 with the intent to live in it together. My parents own 2/3 of the property and my sister 1/3. My parents’ 2/3 of the [...]

Question: My mom and stepdad had a trust. After his death, mom wanted to be rid of the trust so we revoked it. My brother now claims (without a copy of the trust) that he is trustee and as my [...]

Question: I have an irrevocable trust and I am moving to Spain to retire. Can my trustee still pay me monthly income and remain my trust company? Response: Yes, that should be no problem. But [...]

Question: Do I need to report my revocable trust and irrevocable trusts of which I am trustee to the government under the Corporate Transparency Act? Response: No, only limited liability [...]

Question: My husband and I have SLATs set up. The only beneficiaries are our son and 2 grandsons. Our son lost his job and has been looking without luck for 4 months for a new one. He is very [...]

Question: Mother and daughter are joint tenants with right of survivorship in mother’s condo. If they want to transfer the condo to an irrevocable trust, but reserve a life estate to the [...]

Question: Must the trustee of an irrevocable trust with an EIN notify the IRS of the death of the primary beneficiary of the trust? Also, where interest on a CD is accumulating in the trust and [...]

Question: How is different income taxed in non-grantor trusts? For example, are capital gains taxed as income or at capital gains rates? Interest? Dividends? What is taxed and then considered [...]

Question: In 2014, my wife and I became co-trustees of an irrevocable trust with our son as the beneficiary, for his future education. I have never applied for an EIN as I understood I [...]

Question: My mother, a Massachusetts resident, passed away in October 2022. She had an irrevocable trust, established June 2011. The only asset in the trust was her home, which was held in [...]