I am working with a dealership to help setup with the 1099A process, the question he asked me was should the TRUST be Revokable or Non Revokable??
It would have to be an Irrevocable Trust. Once you are dead the Trust will stay in place....like forever. I have been checking to see if my father's CQV Trust could be given to my mother. I'm not sure it can be. A Revocable trust is a Trust that can be changed or revoked by the settler if he or she deems necessary. Trust me, I don't think the US Treasury or FR is going to get rid of a Trust because the US Government gets interest off the trust until the end of earth.