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hi Lee Phillips here Ive been doing this for a while and I want to talk to you about basically what happens when the grantor the guy who sets up the trust dies principally the trust then becomes irrevocable its a revocable its a disregarded entity the courts the IRS nobody pays any attention to it but when the guy dies instantly it becomes a different trust it becomes an irrevocable trust the irrevocable trust stands on its own it has its own legs its its a person it can be sued it can sue it owns bank accounts well your trust already owned a bank account but uh but it becomes a different trust and youre going to go down to the bank after Dad dies and the banks gonna say oh we need an EIN number for the trust and hes right you do need an EIN number for the trust how do you get an EIN number its easy you go to irs.gov and in their little search bar you type in EIN application and it will bring it up and you click on EIN application and youre going
