A deceased has assets in a trust and assets outside a trust. Does the Trustee have to file for 2 TINs or well one suffice?

They don't need to have separate EIN's if you make a timely Section 645 election by filing form 8855.

Is there an advantage to filing a Trust and an Estate as one entity on form 1041?

There are two advantages - the first is that by making the Section 645 election, you have more flexibility in choosing the end of the tax year. The...

Do I have to pay tax on my inheritance?

Generally speaking, there will be no inheritance tax if your dad's assets were worth less than $5.2 million. There may be income tax due when some...

Three siblings are named executors in will; one brother is living in house I partially own and won't leave or pay me in lieu.

If the house is titled in your parents' trust, your brother may be breaching his fiduciary duties to you and the other sibling by making personal...

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Whose name do I sign for partial distribution from annuity ?

If the annuity is held in the trust, you should sign something like "John Smith, Trustee of the Jones Family Trust." The annuity company may want a...

In a Revocable Living Trust, can I make one daughter the beneficiary of house and both daughters the beneficiary of some stock?

You can make unequal distributions in your trust, if that's what you want. That choice is separate from creditor protection. Creditors generally...

Revocable Living Trust done 15 yeas ago, don't want anything changed, do i have to update it anyway because of new laws?

Most of the recent changes have concerned estate tax planning, especially for married couples. If you are a single person with less than $5.3...

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