Financial Education Solutions Group
If you give any bank control of a Trust, they take full control and you are left out! Bankers love the get their hands on large trust accounts so they can convert them for the use of the bank and the beneficiaries get nothing. They like to scare people into thinking there is liability in Trust management so they may gain control of their asset and funds.
No foreign id numbers may be presented to gain an EIN number for a Trust. If a foreigner is the Settlor of a Trust, they must provide an SSN, an ITIN, or EIN number registered with the IRS. For more about this, check out this IRS site.
Trust Law is not subject to any Federal, State or Local court and no judge or court may issue a turnover order against a Spendthrift Trust. The Spendthrift Trust is sold by a licensed attorney as a legal document and the Spendthrift Trust is created for the client by the Attorney unlike others who sell illegal documents or trusts who are not licensed lawyers. The IRS examined our Spendthrift Trust for compliance and a past District Director purchased one for himself. We have prosecuted vigorously those who have infringed on our Copyrighted Trust and prevailed in Federal court each time even when the defendants claimed invalid, it was found valid. The Federal cases are sealed.
No, the Trust may do business or open any account in all or any part of the name.
The Settlor or Creator of a Trust must give a SSN or EIN period. However, a Settlor who provides their SSN for the EIN is assured that they have no tax consequences where the Trust is concerned. Therefore, they should be willing to present it for the EIN number.
No! Do not do this!
Not needed; the named successor is the key here.