When a will or trust directs that an inheritance be held in trust, what has to be done to "create" that trust? And whose responsibility is it to take whatever action is required?
We get asked a variant of this question quite often. But there probably isn't any court or administrative action necessary to "create" the trust, or set its terms. Those are in the will or trust directing the inheritance terms.
That's not to say nothing needs to be done. The trustee of the new trust (we usually call it a sub-trust) will need to get an Employer Identification Number (EIN) and set up appropriate accounts. There's work to be done, but it's usually not work to "create" the trust that already exists, and has terms and limitations in the original document.