[WSBAPT] My first TEDRA??

[amanda_wilson at olypenlawoffices.com]

Client asked me to review A/B Trust. It has been meticulously administered since her husband's death a few years ago and the accountings are all in order.
 
However, the combined estate is around $1 million.
 
My client and her late spouse had two children together, who are the heirs under the decedent's trust and the survivor's trust. My client has no intention of changing the beneficiaries.
 
My client is tired of managing two trusts and paying the CPA at tax time each year, I do not think an estate tax would be owed on the combined estate. The two adult children have good relationships with their mother and would be willing to to sign things that benefit the mom....
 
Can my client and the kids all sign affidavits agreeing to the termination of the decedent's trust? Is a TEDRA action necessary? What would we need to do to appease (or not anger) the IRS since the decedents Trust is "registered" and has an EIN already?
 
Amanda Wilson
 
Amanda M. Wilson, esq.
 
Olympic Peninsula Law Offices, LLC
P.O. Box 115
Port Townsend, WA 98368
 
(360)437-4172 office
(206)331-7851 cell phone
 
"Your words are the greatest power you have. The words you choose and their use establish the life you experience."
-Sonia Croquette 
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