An estate has been opened for x who also happened to have a Revocable Trust set up with his disabled wife. The reason an estate was opened after his death some assets were discovered not in the name of the Trust. Most of his assets are in the Trust and the banks want a Trust EIN. The question is the estate will be closed after six months, the Trust will remain open due to his disabled spouse still being alive. When opening the EIN for the Trust should Section 645 be marked yes or no. Thank you for any assistance.
USA Trust Filing as an Estate under Sec. 645
- Thread starter Shadow12
- Start date
645 election gives trustees and executors more flexibility | Our Insights | Plante Moran
Learn about the factors to consider when making a 645 election after a loved one’s passing.
Above is a recent article on your topic