Does An Irrevocable Living Trust Require An EIN Number

Does An Irrevocable Living Trust Require An EIN Number?

It is believed that the term “irrevocable” refers to a trust people made while alive. However, they are irrevocable, which means they cannot be altered. Contrarily, revocable living trusts can be modified in the trustee’s lifetime. After the trustee’s life ends, they will automatically become irrevocable trusts. The irrevocable nature of trusts needs an Employer Identification (EIN). If the trust earns …

Does An Irrevocable Living Trust Require An EIN Number? Read More »

How Do I Obtain The Estate From A Deceased Person's Tax Identification Number

How Do I Obtain The Estate From A Deceased Person’s Tax Identification Number?

Suppose you’re acting as the personal representative or executor of an estate. In that case, you’re accountable for managing the property and the money from the deceased’s estate. You’ll have to collect the assets, pay creditors, distribute assets to beneficiaries, and take care of taxes. To meet your legal and financial obligations, you’ll need to …

How Do I Obtain The Estate From A Deceased Person’s Tax Identification Number? Read More »