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RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 37085
Experience:  Texas lawyer for 30 years in Estate law
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Lost revocable living trust
, irs requesting the lost

Customer Question

Customer: lost revocable living trust
JA: Thanks. Can you give me any more details about your issue?
Customer: irs requesting the lost documents
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Submitted: 1 year ago.
Category: Estate Law
Expert:  RayAnswers replied 1 year ago.

Hi and welcome to JA. I am Ray and will be the expert helping you tonight.

Here there is a tax issue and the IRS wants copies of trust here and it is lost, is that the case??Are there any assets in the trust and have you ever filed prior trust returns, what state is involved here,thanks.

Customer: replied 1 year ago.
no, CA
Expert:  RayAnswers replied 1 year ago.

Call the advocate and explain situation, see if there is alternative documentation IRS would accept.

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National Taxpayer Advocate’s Help Line

For taxpayers whose tax problems have not been resolved through normal channels. Taxpayer Advocate Service (TAS) provides an independent system to assure that tax problems are promptly and fairly handled. TAS operates independently of any other IRS office and reports directly to Congress through the National Taxpayer Advocate.

Here if the trust is lost you may also need a new trust here and then transfer any assets to it.This will not cure the IRS issues from the past but you need to do this for the future.

New Revocable Trust Form..

http://www.kinseylaw.com/freestuff/persfam/willtrust/revocablelivingtrust.html

You would need to quit claim any real estate from old trust and trustee to new trust after you create it here.

Expert:  RayAnswers replied 1 year ago.

If the settlor is still alive it is also possible to do do an amendment and restatement of the original trust--you would have to have the information here about the prior trust.

This would resolve the IRS issues hopefully as well as give you a new document to work with..

http://www.kinseylaw.com/freestuff/persfam/willtrust/revocablelivingtrust.html

If you can locate the necessary information this allows you to recreate lost trust, no transfers of assets from one to the other would be needed.This might be better for you if you can complete it and trustors are still alive.

Expert:  RayAnswers replied 1 year ago.

Please let me know if you have more follow up.Be happy to help you.

Expert:  RayAnswers replied 1 year ago.

I wish you a happy holidays as well.

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