When completing a CTR for a withdrawal by a grantor from a deposit account owned by a revocable trust (under same grantor's social security number), are two separate Part Is required? Both conductor and entity on whose behalf transactions was conducted (trust) both have the same social security number.
Can you now have an authorized signer on a trust account? The trustee is the owner of the trust and the successor trustee is her husband. She is wanting to put her daughter as an authorized signer just to sign checks in the case she gets sick and can't. After her husband (who is also aging), her 2 sons are the trustees.
This is a question about a revocable living trust. The situation is that the trustor has passed away and the trustee is to set up accounts for the listed grand children. She was told that she would need to get an EIN number for them. What type of account would this be? A trust for each one and is there any documentation that would be needed other than the original trust papers?
Can the custodian of an Oklahoma UTMA account name a Living Trust as the Successor Custodian of the UTMA?
A loan comes to loan operations with the borrower being a trust. The purpose of the loan is to purchase 1-4 family dwelling for the trustee of the trust. Would this be a commercial or consumer qualified loan and why?
Who should be signing the W-9 Certification of an EIN for an irrevocable trust where the grantor is living but not a trustee : the grantor or the trustee?
We have a grantor trust where the trust is reporting under the SS# of the trustee who is the grantor. The trustee has resigned and a new trustee has accepted the responsibility of being the new trustee. Can the new trustee use the grantors (old trustees) SS# still? or do they need to have an EIN#.
FDIC insurance-husband has set up a revocable trust, he and his wife are co-ttee (co-trustees) and son is succ/ttee (successor trustee). How much is this account insured for? The wife has similar trust with names reversed and same son as suc/ttee?
Do the Letters POD have to be in the address information on the bank statement as long as the POD information is designated on the signature card? I understand the account title has to match the card- but does POD HAVE to be there?
We know that IOLTAs will now be covered under the Dodd-Frank Act's provision for unlimited coverage - but will IOLTAs be held to a minimum interest rate? (i.e. .25 or less?)