Separate Form 56s need to be filled out for file my father’s final 1040 and Initial Trust 1041 which will be filed for the 2024 tax year. I am both the Executor and Trustee and filings were done by my late father’s Estate lawyer with a county in Florida. For the Trust it looks like for “Section A. Authority” “valid trust instruments and amendments” would be checked and “Part III Court and Administrative Proceedings” be filled out with the court information.
Whether the sub-trusts needed to be created would be a matter of the terms of the main trust or any will.
Since you were named trustee under a valid instrument, you can check, “valid trust instruments and amendments". This is not really material in any event.
Both points are valid, though, as far as creating the sub-trusts are concerned; they increase expenses, time involved, and paperwork, but they do provide protection.
OK, thanks! But because when my father’s Trust lawyer created the 2 Sub Trusts there were just notices of Sub Trusts notarized but no actual court proceedings for them in your opinion should Part III be filled out with the court proceedings information for the main Trust or just left blank?
You can have a valid and enforceable trust without court proceedings.
OK, so I guess what you are saying is it doesn’t matter and it probably shouldn’t be filled in since there weren’t court proceedings for the Sub Trusts.
Not exactly. You would file a Form 56 each time you create or terminate a fiduciary relationship.
I think you misunderstood me. I wasn’t saying it shouldn’t be filed for the Sub Trusts. What I am saying is Part III doesn’t need to be FILLED in because there was no court proceeding for the Sub Trusts. I think you thought I meant not FILED.