sjrcpa
Level 15

"The Living Trust had no EIN" Did it use a SSN? Or no number and subject to backup withholding?

"The Trust documents are silent on a name for the Irrevocable Trust " They frequently are, especially older ones. It doesn't matter. Many times they carry on being called Mary's Living Trust after she dies.

"The Brokerage Firm would Feel comfortable with a Trust called the Survivors trust." Why do they get to decide? What's wrong with Remainder Trust and its EIN?

What would happen if the first EIN was never used and a new EIN was created under the new name? Nothing.

What would happen if they kept the existing EIN?

If I was getting this crap from the brokerage firm I'd yank the assets and go somewhere else.


The more I know the more I don’t know.

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