If I had an irrevocable Trust of which all assets have been dispersed, how do I make sure that the state knows it is dissolved?
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If I had an irrevocable Trust of which all assets have been dispersed, how do I make sure that the state knows it is dissolved?
Is there paperwork to file? I paid taxes for last year.
Asked on June 24, 2014 under Estate Planning, Colorado
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
Ordinarily an irrevocable trust files its taxes under the trustee's tax identification number in that they are taxed as one person/entity. based upon what you have written, there is nothing for you to advise the state about concerning the trust's dissolution.
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