Sunday, June 1, 2014
It can be confusing for trust beneficiaries to understand why a trustee needs so much personal information from them each tax season. Despite mandatory requirements that trustees report complete information for beneficiaries, it can still be difficult to gather the information as identity theft is on the rise and many beneficiaries do not understand why the information is needed.
See Andrew Rusniak, Requesting, Obtaining and Reporting the Personal Information of the Beneficiaries of a Trust, JD Supra, May 21, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.