Legal Question in Wills and Trusts in Illinois

Setting up a checking account for a Trust

I am trying to set up a checking account in a Revocable Living Trust. The bank will not let me set the account unless they have a tax id number; even though I am trustee, I am told that my ssn will not suffice.

Thank you.


Asked on 11/22/06, 9:35 pm

1 Answer from Attorneys
Jeffrey R. Gottlieb Law Offices of Jeffrey R. Gottlieb, LLC

Re: Setting up a checking account for a Trust

If the trust is set up as a "grantor trust" and the grantor is alive then the tax id number for the trust IS your soc. sec. number. If they don't get it then you might either (a) have your attorney explain it to them or (b) find a new bank.

Read more
Answered on 11/22/06, 9:59 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Illinois