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Thomas McJD
Thomas McJD, Attorney
Category: Estate Law
Satisfied Customers: 3170
Experience:  Wills, Trusts, Probate & other Estate Matters
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I have an IRA brokerage account under the Family Living

Customer Question

I have an IRA brokerage account under the Family Living Trust with a tax number. I was
told now that I made my home in Florida, and the Trust was drawn up in Hartford, Connecticut. It isn't legal in Florida. But I don't know how to take the Family Trust, or
tax number taken off this account, and put in my name and social security number.
I am 71 years old and have been talking to the bank, attorney's know one seems to be able to help me. I have been trying for almost three years when my husband passed-away.
Can you help me.
Submitted: 3 months ago.
Category: Estate Law
Expert:  jb156200 replied 3 months ago.

Good Evening. I am a licensed Florida attorney. I hope I can be of assistance with your issue. First, a trust created in another state is still valid in another state; however, the state in which the trust was created is the laws that will govern the trust.

Usually when one spouse dies, the trust becomes irrevocable. This means you cannot terminate the trust.

Second, you do not need to take the IRS tax identification number off the trust. This number is ***** by the IRS and must be used to file a tax return on behalf of the trust.

Ok so to recap...your trust is valid in Florida and you do not want to terminate the IRS tax identification number.

For the rest of the analysis I need a little more information. Are you trying to take the IRA out of the trust name and put it in your sole name?

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