I read the below which was quite informative but I still could use some help.
Here we go......
Both parents had Revocable Trusts Father died about 8 years ago. Mother died 2 weeks ago unfortunately at end of 2007. There is no house or furniture or jewelry or real property of such. Trust and will are simple. All of her assets in the trust were put into cash the first week of
2008. We will file 1040 and 1041 tax returns.***Here is where I need help (see **)
- I need to create a tax ID for the Trust. When I use the Online application from the IRS it asks for the Grantor (my mother) and asks for Trustee (me) and asks if trust is revocable or irrevocable.
- Well trust was Revocable but I realize when someone dies the trust becomes Irrevocable.
It asks about section 645 election-not sure I should check it or not. We intend to have the estate pay any taxes, year end will be 12/31/07 and then that should be that.
Thanks for any help. I appreciate it much
Sincerely Patty