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I am trustee &only beneficiary of a trust. Only asset is a house with small amount of equity. Do I need to get a tax id?

8 views 3 answers
Property is selling and is in escrow. I put my ss# for the transfer, should I have gotten a tax Id? There is also a small check made out to the deceased. Must I open a bank account in the name of the trust? Thanks

Attorney Answers

3
Michael Potter ·
Yes. Upon the death of the Grantor a separate Tax ID number is required. You can do this online at IRS.Gov.
0 upvotes
Grace Chang ·
Yes, it is required. Further you should consult with a tax professional to understand all your liabilities
0 upvotes

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