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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29933
Experience:  Taxes, Immigration, Labor Relations
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There was no "allocation", obviously a possibly serious

Customer Question

There was no "allocation", obviously a possibly serious mistake on my part. What do you recommend I do now?
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

That must be corrected.... There is no choice.

Expert:  Lev replied 1 year ago.

I assumed that is A-B type trust - but that must be verified.

Please see here HOW A_B trust works.

The trust document states that when the first spouse dies, the AB trust must be split into two separate trusts: Trust A will contain the deceased spouse's property, and Trust B will hold the property of the surviving spouse.

So far - if that allocation was NOT made - you would need to correct that and do allocation as soon as possible.

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