Legal Question in Wills and Trusts in Mississippi

Re: trust account

Whoever has the property that is to become the body of the trust (trustor) needs to transfer it to the older daughter (trustee) in trust for the benefit of the younger daughter. In transferring the property, the trustor may want to place limitations on the use of the property, when it is to end, and what to do if the trustee is no longer able or willing to serve. If the trustee is to open an account with a bank for a CD, the trustee will need a fiduciary number from the IRS to guard against being personally taxed for the trust earnings. Fiduciary numbers can be obtained from IRS.gov.