David1961
Thinks s/he gets paid by the post
- Joined
- Jul 26, 2007
- Messages
- 1,085
My father recently passed away and I’m the executor of his estate. In setting up an estate checking account, I was assigned an employer identification number from the IRS to use. In transferring other assets to his estate, I seem to have a choice of keeping the accounts in his SSN or changing them to this new employer identification number. What are the advantages of either keeping most accounts in his SSN versus changing to the new number? He pays little tax so I don’t think it would matter much. His estate won’t be making much income. Will either way make it easier to transfer assets later on? My mother is still alive. They had filed joint tax returns, and as I said earlier, pay very little tax. Any insights would be appreciated. Thanks,