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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Trust Bank Account? Posted by Ward-CA- on September 26, 2001 at 9:30 AM In Reply to: Trust Bank Account? posted by Jill Evans on September 26, 2001 at 6:54 AM : I was wondering if you could give me some advice as to the easiest and least expensive way to set up a bank account for a land trust I want to establish for a property. I want to pay rehab bills, etc. from the account. Me expectation (fear) is that the bank will want to establish a high-fee "trust account" which I want to avoid. Also, is a federal tax ID number (other than SS#) needed to set up such an account? : : Thanks : I was wondering if you could give me some advice as to the easiest and least expensive way to set up a bank account for a land trust I want to establish for a property. I want to pay rehab bills, etc. from the account. Me expectation (fear) is that the bank will want to establish a high-fee "trust account" which I want to avoid. Also, is a federal tax ID number (other than SS#) needed to set up such an account? : : Thanks =•=•=•=•=•=•=•=•=•=•=•=•=• Jill, all bank accounts require a SS# or some other federal tax ID number. The way I set the account up in the trust’s name is to bring the subject up just as I’m getting ready to leave. At that point I tell to the bank rep, “Say, let’s put a label on this account and call it the Hickory Trust so I don’t get it confused with the paperwork of my other accounts”. And I order my own checks directly from Deluxe so I get them pre-printed with the Hickory Trust name and address on each. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I was wondering if you could give me some advice as to the easiest and least expensive way to set up a bank account for a land trust I want to establish for a property. I want to pay rehab bills, etc. from the account. Me expectation (fear) is that the bank will want to establish a high-fee "trust account" which I want to avoid. Also, is a federal tax ID number (other than SS#) needed to set up such an account? : : : : Thanks : : I was wondering if you could give me some advice as to the easiest and least expensive way to set up a bank account for a land trust I want to establish for a property. I want to pay rehab bills, etc. from the account. Me expectation (fear) is that the bank will want to establish a high-fee "trust account" which I want to avoid. Also, is a federal tax ID number (other than SS#) needed to set up such an account? : : : : Thanks : =•=•=•=•=•=•=•=•=•=•=•=•=• : Jill, all bank accounts require a SS# or some other federal tax ID number. : The way I set the account up in the trust’s name is to bring the subject up just as I’m getting ready to leave. At that point I tell to the bank rep, “Say, let’s put a label on this account and call it the Hickory Trust so I don’t get it confused with the paperwork of my other accounts”. : And I order my own checks directly from Deluxe so I get them pre-printed with the Hickory Trust name and address on each. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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