Opening an Account for a Deceased Person
by John Burnett, BOL Guru Guru BIOS
Question: When a person with a revocable trust in his/her name dies, and another person is trustee, can that person open a CD in the deceased person's trust without having an EIN?
Answer: No. The revocable trust became irrevocable on the death of the grantor/trustee. It clearly is a separate entity with a separate identity from all perspectives, including that of the IRS.
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