Does an irrevocable trust have to use a TID# issued by the IRS or can they use the social security number of the bene of the trust?

I am getting conflicting answers and so far the percentage is 50/50!

Thanks!

From my understanding it should have it's on TIN.

An irrevocable trust is it's own entity and requires their own number.

Thanks you guys! That was my guess also!!

Ok...another question. I have an Atty who is telling me that even though the title of the trust says "Irrevocable" that it is in fact a revocable trust and "it just says irrevocable". Seriously, that is what the atty told me! Anyway, she told me if I read the trust, I would see that. Of course I am not an atty (thank God) and therefore don't care what the meat of the trust says, all I know is that the title says Irrevocable and that means TID#.

Anyone else have a similar situation? Ever? I have a call into our bank's atty but have not heard back yet.

The sky isn't blue. It's really chartreuse. It only seems to be blue. Why in the heck would an attorney label a revocable trust as irrevocable?

Wait for your attorney to tell you whether the trust is revocable or not, and deal with the other barrister accordingly.

Unless this account involves large balances or other relationship issues, getting your attorney involved (unless in-house) may not be worth it. You could always have this attorney try down the street to open an account.

Bankgr167,

We had a very similar situation some months back and requested an opinion letter from the attorney stating that the appropriate tax identification number for the trust was the SSN of the Trustor. They provided this opinion letter to us and our bank attorney was satisfied with the documentation. We opened the account using the Trustor's SSN.