A person dies with money in individual brokerage accounts and a living revocable trust which has brokerage accounts.

Given these facts, it is my claim that to settle the estate, you should get two EIN numbers. One for the estate and one for the living revocable trust. In addition, to avoid having to file two tax returns, it would likely be a good idea to have the EIN number for the trust to make the 645 election so that one income tax return needs to be done for both.

Also, when the living trust becomes irrevocable due to the death the grantor, does the grantor of the trust change? I would think not.

Am I right on these points?


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