I have a revocable trust, the "John Smith Trust", with trustee John Smith (me), and an asset that I would like to be in the trust when I die (to avoid probate).
Can you help me with the W-9 that I've been asked to fill out to transfer the ownership of this asset from John Smith to the John Smith Trust? I believe the first and last item below are properly specified (makes sense, because they must match and the trust doesn't have a separate (EIN/TIN)). I need help with Boxes 2 and 3. I'm getting conflicting advice.
Box 1 Name (as shown on your tax return): John Smith
Box 2 Business Name/disregarded entity name, if different from above: Leave blank or "John Smith Trust"?
Box 3 Check appropriate box: Individual or Trust/estate?
Part I: Taxpayer Identification Number: John Smith's SSN
If the asset is being transferred to the Trust, you should be using the Trust's information. If the trust has not applied for an EIN, you need to. The trust has to pay separate taxes from the trustee. You cannot use the Trustee's information on the form. AVVO lawyers can only answer general questions, if you need help filling in a specific form you would have to hire a lawyer. Talk with a trust lawyer to assit you in finalizing this.
I am a Massachusetts attorney and answer questions based on Massachusetts law. The above answer is for educational purposes only and does not create an attorney client relationship or constitute legal advice.
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