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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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Are you licensed to provide real legal advice in AZ? a) I am

Customer Question

Are you licensed to provide real legal advice in AZ? a) I am the sole trustee for my recently deceased father's family trust. The trust contains cash, stocks, bonds, mutual funds, real estate that myself and brother are the beneficiaries. I'm told that I need to move these things into a decedents trust for tax purposes and need to get an EIN. I'm looking at the IRS web site to get that number but don't quite know how to answer all the questions the right way. Can you help me with that? You would think the IRS would have a little chat help but they don't. b) Within this trust, there is one IRA. I need to decide if I should turn this into an inherited IRA or take the distribution. The brokerage is suggesting the inherited IRA but thinks that because the trust doesn’t specifically mention the IRA I will need to take it as a distribution (and pay taxes). How can I tell if the inherited IRA is “legal?)
Submitted: 1 year ago.
Category: Estate Law
Expert:  Law Educator, Esq. replied 1 year ago.
Please read the site's rules and disclaimer before proceeding:
If you still wish to proceed with that understanding, let us know and we are more than happy to assist you.
It says:
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Customer: replied 1 year ago.
All right, I understand the disclaimer. I need to get an EIN and understand what to do with the IRAs.
Customer: replied 1 year ago.
never mind. I see, you can only talk in general and I need specific help.
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your reply. Best wishes. Do not reply here and question will close.