Estate Experts (1 Viewer)

[ChiefD]

Howdy.

Someone I know was the sole beneficiary of her uncle’s will. He had all of his assets in a trust and she was named on all paperwork and involved through the whole process. She is also the trustee. From all accounts all the i’s were dotted and t’s were crossed.

He has now passed, and she is now trying to close the accounts, pay any outstanding bills, and transfer the remainder of the assets to herself. She also already had power of attorney over his affairs.

She now has the death certificate and the bank (Wells Fargo) is telling her she needs to provide the EIN number of the attorney who set everything up. She has left three messages with this office with no return call.

1. Is providing the EIN number common?

2. What is the next step if this attorney office doesn’t call her back?

He passed away in Arizona. She lives in KC. Attorney is in Arizona.

Any thoughts? Thanks in advance.

 

[BeTheMatch]

Howdy.

Someone I know was the sole beneficiary of her uncle’s will. He had all of his assets in a trust and she was named on all paperwork and involved through the whole process. She is also the trustee. From all accounts all the i’s were dotted and t’s were crossed.

He has now passed, and she is now trying to close the accounts, pay any outstanding bills, and transfer the remainder of the assets to herself. She also already had power of attorney over his affairs.

She now has the death certificate and the bank (Wells Fargo) is telling her she needs to provide the EIN number of the attorney who set everything up. She has left three messages with this office with no return call.

1. Is providing the EIN number common?

2. What is the next step if this attorney office doesn’t call her back?

He passed away in Arizona. She lives in KC. Attorney is in Arizona.

Any thoughts? Thanks in advance.

Yes, you need an EIN. She can apply online herself and get one instantly using the name of the trust and herself as trustee. She'll need to enter the decedent and their social security number as the responsible party.

 

[BeTheMatch]

And we always check the box to treat the trust as an estate just for tax deadline purposes.

 

[Mrs. Rannous]

I don't think the attorney who set up the trust has anything to do with it any more. The trust exists independently.

 

[-fish-]

Howdy.

Someone I know was the sole beneficiary of her uncle’s will. He had all of his assets in a trust and she was named on all paperwork and involved through the whole process. She is also the trustee. From all accounts all the i’s were dotted and t’s were crossed.

He has now passed, and she is now trying to close the accounts, pay any outstanding bills, and transfer the remainder of the assets to herself. She also already had power of attorney over his affairs.

She now has the death certificate and the bank (Wells Fargo) is telling her she needs to provide the EIN number of the attorney who set everything up. She has left three messages with this office with no return call.

1. Is providing the EIN number common?

2. What is the next step if this attorney office doesn’t call her back?

He passed away in Arizona. She lives in KC. Attorney is in Arizona.

Any thoughts? Thanks in advance.

Send an email. Small attorney offices are far more likely to respond to email than voicemail. Personally, I don't answer calls unless the number is in my contacts.

If they want the attorney's EIN rather than one for the trust, something is tied to the attorney's trust account.

 

[-fish-]

Also possible that the way it is set up the attorney gets paid some fees from the estate. They may need the EIN to issue a 1099.

 

[fatness]

1. Is providing the EIN number common?

In Pennsylvania the estate has to be set up through the state and has to have an EIN (from dealing with my mom's estate a couple years ago). I was able to do this on a video call in the attorney's office.

 

[Juxtatarot]

I have not dealt with this personally but I think there might be some confusion here. They are asking for a EIN for the attorney, not the trust.

 

[Birdie048]

As a side note, after having to deal with my In-Laws estate issues, Wells Fargo was absolutely horrible to work with. Absolutely no compassion or respect given to the grieving family. If the T’s were not crossed properly or the i’s not dotted according to their standards it was rejected. Took 9 months to close their accounts and pay all the bills due to WF’s absurd rules and internal practices
We had to go into a branch multiple times with all the paperwork to get things processed. They dropped the ball every time either due to incompetence or just plain ignorance. They just did not care. It felt like they were trying to keep the assets for themselves with their red tape processes.

 

[FairWarning]

As a side note, after having to deal with my In-Laws estate issues, Wells Fargo was absolutely horrible to work with. Absolutely no compassion or respect given to the grieving family. If the T’s were not crossed properly or the i’s not dotted according to their standards it was rejected. Took 9 months to close their accounts and pay all the bills due to WF’s absurd rules and internal practices
We had to go into a branch multiple times with all the paperwork to get things processed. They dropped the ball every time either due to incompetence or just plain ignorance. They just did not care. It felt like they were trying to keep the assets for themselves with their red tape processes.

My bank recommended that the banking accounts stay open for 6-12 months. If checks come in, they cannot be cashed if they are closed. Others like utilities, those can be closed right away.

 

[Monty Burns]

As a side note, after having to deal with my In-Laws estate issues, Wells Fargo was absolutely horrible to work with. Absolutely no compassion or respect given to the grieving family. If the T’s were not crossed properly or the i’s not dotted according to their standards it was rejected. Took 9 months to close their accounts and pay all the bills due to WF’s absurd rules and internal practices
We had to go into a branch multiple times with all the paperwork to get things processed. They dropped the ball every time either due to incompetence or just plain ignorance. They just did not care. It felt like they were trying to keep the assets for themselves with their red tape processes.

They pay paltry interest on the accounts and lend at higher rates so the longer the accounts are open the more they make on the spread and will nickel and dime anyone they can in any way. I had a friend who worked at Wells for several years and after he moved on from them told me they were horrible to work for and their policies are deliberately like this.

 

[Mrs. Rannous]

As a side note, after having to deal with my In-Laws estate issues, Wells Fargo was absolutely horrible to work with. Absolutely no compassion or respect given to the grieving family. If the T’s were not crossed properly or the i’s not dotted according to their standards it was rejected. Took 9 months to close their accounts and pay all the bills due to WF’s absurd rules and internal practices
We had to go into a branch multiple times with all the paperwork to get things processed. They dropped the ball every time either due to incompetence or just plain ignorance. They just did not care. It felt like they were trying to keep the assets for themselves with their red tape processes.

They pay paltry interest on the accounts and lend at higher rates so the longer the accounts are open the more they make on the spread and will nickel and dime anyone they can in any way. I had a friend who worked at Wells for several years and after he moved on from them told me they were horrible to work for and their policies are deliberately like this.

And this is why I actively suggest people avoid them. I was dealiing with my dad's estate right when the big fraid scandal broke. I felt sorry for the people working in the branches. They had plainly been there from before the a-holes took over, and were very kind and helpful. The brokerage people were incompetent. The credit card people were actively unhelpful. I can't prove it, but I'm pretty sure the financial advisor dad had been using changed into some nimrod who gave less good advice.

T Rowe Price sucked, too. Would not recommend.

 

[BeTheMatch]

I have not dealt with this personally but I think there might be some confusion here. They are asking for a EIN for the attorney, not the trust.

My bad. I read OP wrong