Will Form 8854 Irrevocable 2023-2024

High-heat Phillips. I'm an attorney. I deal with estate planning a lot. In fact, I'm a Supreme Court counsel. Let me talk to you about opening a bank account in the name of a living revocable trust. When you set up the living revocable trust, everybody says okay, you've got to fund the trust. Actually, the lawyer, half the time or three-quarters of the time, writes you a letter that says you know the trust really needs to be funded. Well, funding the trust is the key element of the trust. If it's going to avoid probate, it's got to be funded. That means it has to own the cars, the house, the boats, the bank accounts, the brokerage accounts, everything. Let's do a bank account. You're going to go down to the bank, and 35 years ago when I started doing this, none of the banks understood what a living revocable trust was. You'd roll in with the trust, you'd say, "I want to put the bank account in the name of the trust," and the little girl would look at you like mmm. Today, most of the banks understand the trust, and what you should do, this is all you should have to do, is get a new signature card. The new signature card is going to be filled out with the name of the trust as the owner. So it's the John Doe trust or the pretty old trust or whatever it is, the name of the trust. The date of the trust, September 10, 2009, and the trustee, who's the trustee? Ideally, it would be John Doe trustee and successor trustees, but nobody ever puts the end successor trustees on the bank. Just knows that there's going to be successor trustees. So, it's the John Doe...