my inlaws have a living trust. Both are the listed trustees.
Last year my mother-in-law was legally deemed incapicitated and my father-in-law resigned as trustee, appointing my wife as successor trustee. We had all papers done by their attorney. Resignation letters, acceptance letters, etc. My wife is sole beneficiary.
We were in the process of mailing the info to banks, stock companies, etc., and then in January he passed away.
We had not yet mailed the stock transfer forms to his stock holdings for the new trustee info, so I called them to get instructions on how to proceed. They directed me on how to complete forms now that he is deceased, and in all cases instructed me to use his SSI since the trust was using that for ID, and we weren't changing trust or stock ownership.
Today we had their taxes done and my CPA said that was incorrect and we must get a tax ID nember for the trust and use that number for all transfers. I am now confused. We are not distributing the trust or changing it, just changing trustee names.
None of his banks have asked for a new number either, also having been notified of his passing.
???
Last year my mother-in-law was legally deemed incapicitated and my father-in-law resigned as trustee, appointing my wife as successor trustee. We had all papers done by their attorney. Resignation letters, acceptance letters, etc. My wife is sole beneficiary.
We were in the process of mailing the info to banks, stock companies, etc., and then in January he passed away.
We had not yet mailed the stock transfer forms to his stock holdings for the new trustee info, so I called them to get instructions on how to proceed. They directed me on how to complete forms now that he is deceased, and in all cases instructed me to use his SSI since the trust was using that for ID, and we weren't changing trust or stock ownership.
Today we had their taxes done and my CPA said that was incorrect and we must get a tax ID nember for the trust and use that number for all transfers. I am now confused. We are not distributing the trust or changing it, just changing trustee names.
None of his banks have asked for a new number either, also having been notified of his passing.
???
