Do I need to file a 1041 for a living trust?

Answer On One Hand: Only Three Requirements For Form 1041There are only three requirements for form 1041 to be filed. First, if the trust had any taxable income during the year (no matter what the amount... Read More »

Top Q&A For: Do I need to file a 1041 for a living trust

Does a living trust need an EIN?

Like all trusts apart from revocable, granter-owned trusts, a living trust requires a federal employer identification number, or EIN, according to the Internal Revenue Service. A nine-digit number,... Read More »

Do I need a will or a living trust?

On One Hand: Benefits of a Living TrustThe primary advantage of a living trust over a will is that a will must go through probate court, which can often be time consuming and expensive. A living tr... Read More »

At what asset level do you need a living trust?

On One Hand: Asset Level is Not The Determining FactorThe main goal of an estate plan is to accomplish the objectives of the individual. No minimum asset level is required to benefit from a living ... Read More »

If I Update My Living Trust Do I Need to Redo My House Deed?

If the real estate deed to a trust grantor's home is in the name of the trust, there are few circumstances that create a situation in which a new deed is required. If a trust update places a home i... Read More »