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#1856083 - 09/26/13 07:14 PM Levy, Garnishment and Trust Accounts
SunnyFL, CRCM Offline
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Joined: Sep 2004
Posts: 205
FL
This question concerns an account set up with a formal written trust - not a POD or an account with a named beneficiary. If a revocable trust can use either the SSN of the grantor or get an EIN and you use the SSN of the grantor who is also the trustee of his own trust,can the levy or garnishment reach the trust? If you use an EIN can the levy or garnishment reach a revocable trust?

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#1856106 - 09/26/13 07:28 PM Re: Levy, Garnishment and Trust Accounts SunnyFL, CRCM
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Your lawyer will need to read both the trust and the third party demand for funds in order to answer this question. If the trust is revocable, it won't make any difference whether it sports an SSN or and EIN.
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