Personal Finance (Not Investing) • Creating a revocable trust (to buy Series I bonds)

I am considering creating a revocable (living?) trust to buy additional series I bonds. The trust is / would be created solely for buying / holding series I bonds; I won't declare the interest on my tax returns, just pay taxes upon redemption.

Questions / concerns:

• 1. What fees should I expect a long the way? Meaning: even if I fill out the forms myself (no lawyer or online service), should I expect to pay a notary; will I need to use a more expensive TurboTax package to account for the trust's information? --> I realize I am putting the trust onto my own tax return [disregarded entity], but I always seem to need to pay TurboTax more for every incremental filing requirement.
  
  2. Any legal or other nuances to consider? I am checking for unexpected hassles a long the way - e.g., if you do or don't do X, you may end up with X, Y, or Z problems. I know the trust isn't protected from creditors (but that's not an unexpected issue, for instance).

Thank you in advance!

Statistics: Posted by BuyAndHoldOn — Sun Aug 18, 2024 6:52 am — Replies 3 — Views 206

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