You need to make sure that you title appropriate assets in the name of the trust.Once a trust is created and funded, it will continue on until it is revoked or it is distributed pursuant to its terms. There are no on-going costs or fees to establishing a Living Trust; nor are there any separate accounting’s or tax returns required during your lifetime. IRS Regulations provide that a revocable living trust uses the tax identification number — your Social Security Number — of the Grantor as its identification number and no separate tax returns should be filed for the trust. Instructions on how to transfer or title assets into the name of the trust will be provided.
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