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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">I think we need a little bit more information. Are there assets that will be in a probate estate? Sounds as if there are none. What are the terms of the trust?
Is it a credit shelter trust? Is there a reason to use a fiscal year? Depending on the terms of the trust, it should not be classified as an RLT, which normally does not get an EIN, although it might under some circumstances. The 645 election can be made
later, so there is no need for a decision now. The election is made on a Form 8855, which is due by the due date of the fiduciary income tax return. See section 645(c). So there is no rush. Take a look at the regs under section 645 to make sure that your
trust qualifies, particularly 1.645-1(f)(1). If the election is made, it is irrevocable, but it is good for only two years.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">There are lots of exceptions and conditions to these rules. I suggest you find a CPA who is familiar with fiduciary income tax who will prepare these returns
and the two of you can make this decision together. Perhaps your client already has a CPA who is familiar with fiduciary income tax, but some are and some aren’t.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Phil Jones<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Portland, OR<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:13.0pt;font-family:"Calibri",sans-serif;color:#365F91">Philip N. Jones</span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"> |</span><span style="font-size:13.0pt;font-family:"Calibri",sans-serif;color:black">Duffy
Kekel LLP</span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:black">900 S.W. Fifth Ave., Suite 2500, Portland OR 97204<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:black">(503) 226-1371 (main) ) | (503) 226-3574 (fax)<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:black">(503) 853-1482 (cell)<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><a href="mailto:pjones@duffykekel.com"><span style="color:black">pjones@duffykekel.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Krista MacLaren<br>
<b>Sent:</b> Monday, August 10, 2020 9:39 AM<br>
<b>To:</b> wsba probate & trust <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Tax ID for RLT that became irrevocable<o:p></o:p></span></p>
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<p class="MsoNormal">Hi All - <o:p></o:p></p>
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<p class="MsoNormal">I want to obtain an EIN for an RLT where one of the Trustors just died, so the trust is now irrevocable and will continue to exist until the surviving spouse dies. On the IRS tool to obtain the EIN, I assume I choose RLT as the entity
even though it is no longer revocable? And can anyone offer an opinion as to whether to take the Section 645 election? There should not be a probate, as there is only one asset which is a brokerage account payable to the trust. The reading I did on the
election suggested there may not be a down side of taking the election, but I am not sure. Also, I am unclear why the online tool asks questions that I do not see on the SS-4. Does anyone know why that is?<o:p></o:p></p>
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<p class="MsoNormal">Thank you,<o:p></o:p></p>
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<p class="MsoNormal" style="margin-bottom:12.0pt"><span style="font-size:9.0pt;font-family:"Helvetica",sans-serif;color:black">Krista J. MacLaren<br>
Attorney at Law<br>
Northgate Executive Center II<br>
9725 3rd Ave NE, Suite 600<br>
Seattle WA 98115<br>
(206) 523-6116<br>
<a href="mailto:kjm.inc@icloud.com">kjm.inc@icloud.com</a><br>
<br>
Please note, as with most email providers, Mac does not encrypt email messages. Accordingly, the confidentiality of messages sent to this address cannot be assured. This e-mail is intended for viewing only by the individual or entity to whom its content is addressed,
and it may contain confidential or privileged information. If you received this email in error, please honor the privacy of the intended recipient: reply to the sender regarding the error and delete the message.<o:p></o:p></span></p>
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