BobKamman
Level 15
02-21-2025
09:43 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
@sjrcpa wrote:
All revocable trusts become irrevocable after death of the Grantor.
Only if written that way. Perfectly acceptable to provide "after I die, this trust may be revoked by my trusted friend and CPA, SJR."
But I'm wondering what income the trust had in 2024 after the death. (I'm assuming that was in 2024.) But I get hung up because in my community-property state, most trusts like this have two grantors, both spouses. This one could have just one grantor. So the accounts were closed, there are dividends and interest and gains and losses to report, but now just the house remains? I would mark it as final, because we don't know the house will be sold by the trust, it could be distributed in kind after the death of the lifetime beneficiary.