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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">John – <o:p>
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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"> Two questions I think. One is whether you need and EIN. I would think the trust should qualify as a grantor trust and you can use the minor’s SS# for reporting purposes. For
what it is worth, our practice would probably be to get a separate EIN so as trustee we know that we are independently fulfilling all our tax reporting duties. The second issue are the trust tax rates. Unfortunately in your fact pattern since you have a
minor you are stuck dealing with the Kiddie Tax rules. Together that is likely to put the reporting in a relatively high (35%) reporting bracket.
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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Regards, <o:p>
</o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Mark<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Mark C. Vohr, Esq.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Ohana Fiduciary Corp.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Ohana Financial Services<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">A Washington Trust Company<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Mark C. Vohr, J.D., CPG, Principal<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">PO Box 33710 Seattle, WA 98133<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">T: (206) 782-1189 F: (206) 782-1434<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">mcv@ohanafc.com www.ohanafc.com<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>John Keckemet<br>
<b>Sent:</b> Friday, October 16, 2020 11:58 AM<br>
<b>To:</b> wsbapt@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBAPT] EIN for settlement trust req'd<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Settlement trust (irrevocable) approved by court to receive funds related to a minor settlement for personal injuries. Must an EIN be obtained for the trust? None would be required if the parents were simply acting as guardians! Would
like to avoid requirement to prepare return or suffer trust tax rate. Thanks. <o:p>
</o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:#4D4D4D">John Keckemet, Attorney<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black"><img width="160" height="73" style="width:1.6666in;height:.7604in" id="Picture_x0020_1" src="cid:image001.png@01D6A3B6.0657C8C0" alt="LKA Email 500"></span><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black"><br>
</span><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black">1200 5<sup>th</sup> Avenue, Ste 1550<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black">Seattle, Washington 98101<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black">p. 206.728.5858 f. 206.728.5863<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black"><a href="mailto:keck@lka-legal.com">keck@lka-legal.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black"><a href="https://urldefense.proofpoint.com/v2/url?u=http-3A__www.lka-2Dlegal.com&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=K1mLMC1eFjwfeeMM-AC6zQ&m=rYQWmo81zgL3e76j1Qo7Db5RM7W30zkK_rJmFZ5siOU&s=642LosTd-IWl98Rm540VJ_ufnCUSVup2TwFSQjavpfE&e=">www.lka-legal.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.5pt;font-family:"Arial",sans-serif;color:black"><o:p> </o:p></span></p>
<p class="MsoNormal"><i><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black">This e-mail is intended to be private. It may contain privileged or confidential information. If you are not an intended recipient, please notify me and delete the
e-mail without copying or forwarding it.<o:p></o:p></span></i></p>
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