Legal Question in Wills and Trusts in California

My mom passed away 4 weeks ago. I am the executor of the trust. My sister and I will be splitting the assets. Do I have to get a new tax ID# and open a separate bank acct?

Asked on 9/13/12, 12:51 pm

3 Answers from Attorneys

John Palley Meissner, Joseph & Palley, Inc.

I am sorry for your loss. It depends. In some cases you can actually distribute all assets without getting a TIN for the trust. However, in most cases a TIN is necessary. You might think about hiring an attorney to make sure you comply with all notice requirements and do not expose yourself to any liability. Good luck.

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Answered on 9/13/12, 12:56 pm

Gary R. White Burton & White

You need to consult with an attorney to, at minimum, review the terms of the trust, review the assets of the trust and any other assets, and give you specific advice about how to make the appropriate distributions and avoid personal liability.

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Answered on 9/13/12, 1:11 pm
Donald Field Donald L. Field, Jr., Attorney at Law

you should retain a qualified attorney to advise you regarding your duties as trustee and trust administration.

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Answered on 9/15/12, 8:08 am

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