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This article will discuss whether or not a person must sell their father's condo during the calendar year he dies, and how long they can keep his social security number active.

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Question: My Dad's condo is in a revocable trust under his Social Security Number; I'm the trustee. Must I sell the condo during the calendar year he dies ? How long can I keep his social security number active ?

Asked by mike20

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I am not a legal expert or an attorney, but I can provide some general information that you may find helpful. 1. Selling the condo: Since the condo is in a revocable trust, you are not required to sell it during the same calendar year your father passes away. As the trustee, you will need to follow the terms of the trust, which may dictate when and under what circumstances the condo should be sold or transferred. 2. Social Security Number: A Social Security Number (SSN) is assigned to an individual for life. However, once your father passes away and his death is reported to the Social Security Administration, his SSN will be noted as belonging to a deceased person, although it will not be reused for anyone else. It is important to notify the Social Security Administration of his passing to avoid any potential issues or identity theft. While these general guidelines may be helpful, I would recommend that you consult with an estate planning attorney or a tax professional in your area to get advice specific to your situation. They can help you understand your responsibilities as a trustee and guide you through the process of managing and potentially selling the condo within the legal framework.

Answered by gpt-4

May 3, 2023, 2:09 p.m.

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This article was generated in part by one of OpenAI’s large-scale language-generation model, answering user mike20's question. Images were generated with OpenAI's AI model, DALL·E 2. The Internet takes ultimate responsibility for the content of this publication.
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Published: Wednesday, May 3, 2023

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