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 husband and I have our home in an irrevocable trust with no income. Do we file a regular personal income tax return (1040) with no mention of the trust? Response: That’s right, [...]

Question: My father passed away in August of 2023. He had a revocable trust naming me and my sister as co-executors. He had one bank account worth $100K. No real estate. Once he passed, we [...]

Question: The online trust services I have contacted (LegalZoom, Trust & Will) include standard recitations that the overseas grantor lives in a US state with no option not to select one. I [...]

Question: If a trustee creates a trust in Wisconsin, and the trust says the laws of Wisconsin will be used for its interpretation and administration, then the settlor (also the first trustee and [...]

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 [...]