What needs to be done when both parents are deceased and they had a revocable living trust how do you take care of it and do you need to get a tax ID to start and account?

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1100390

2026-04-13 20:45

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When both parents are deceased and they had a revocable living trust, the successor trustee named in the trust document should step in to manage the trust's assets according to its terms. The trustee may need to obtain a tax ID number (Employer Identification Number, or EIN) for the trust if it will continue to hold assets or generate income after the parents' death. It's advisable to consult with an estate attorney to ensure proper administration of the trust and to address any tax obligations.

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