B
baumgrenze
I've tried searching and find no good answers to this
question.
I believe I'm correct in saying that a revocable trust can
own an account with Treasury Direct and use it to purchase
T-Notes. The SS number of the grantor of the trust is
designated for tax reporting purposes.
Do problems arise on the death of the grantor, when the
trust becomes irrevocable and is given a TIN?
Here's an example. Two elderly siblings have mutual
pour-over trusts which each designate the other as primary
beneficiary. If the trust designates that all income go to
the beneficiary, it seems clear that the trustee could see
to the transfer of the income and the reinvestment of the
capital, but how would the tax ID question be resolved?
Thanks,
John
question.
I believe I'm correct in saying that a revocable trust can
own an account with Treasury Direct and use it to purchase
T-Notes. The SS number of the grantor of the trust is
designated for tax reporting purposes.
Do problems arise on the death of the grantor, when the
trust becomes irrevocable and is given a TIN?
Here's an example. Two elderly siblings have mutual
pour-over trusts which each designate the other as primary
beneficiary. If the trust designates that all income go to
the beneficiary, it seems clear that the trustee could see
to the transfer of the income and the reinvestment of the
capital, but how would the tax ID question be resolved?
Thanks,
John