What is the name of your state (only U.S. law)? Oklahoma
My husband and I currently own a home as Jt. Ten. I would like to transfer this into a revocable living trust with my son listed as beneficiary. I have two questions on this transfer:
1.Upon our passing, am I correct that the property can transfer to him without probate and estate taxes being due? The home is valued at around $100K.
2. Do I have to obtain a trust Fein/ Tin number and file a yearly trust tax return? (There will be no income generated by the trust).
Thank You,
LefloreWhat is the name of your state (only U.S. law)?
My husband and I currently own a home as Jt. Ten. I would like to transfer this into a revocable living trust with my son listed as beneficiary. I have two questions on this transfer:
1.Upon our passing, am I correct that the property can transfer to him without probate and estate taxes being due? The home is valued at around $100K.
2. Do I have to obtain a trust Fein/ Tin number and file a yearly trust tax return? (There will be no income generated by the trust).
Thank You,
LefloreWhat is the name of your state (only U.S. law)?