If you’re going to be leaving behind an estate of any type, then you’re going to need to go about obtaining a federal ID number for an estate. The reason for this is that your estate will need to be run somewhat like a business after you are dead. Therefore, you’ll need a federal ID number so that all of the taxes for your estate can be filed properly. These numbers are different than the ID numbers that individual people use, however, a good way to describe them is that they are similar to social security numbers – but for businesses instead of people.
One thing that you should keep in mind when you’re getting your federal ID number for an estate is that you need to make sure that you do not need to get a state ID number as well. If you do, then you will probably want to save time by applying for both numbers at the same time. While some states require this extra number, not all of them do. It is highly possible that you will only need the federal ID number for your estate.
Generally, however, most estates do not need or obtain a federal ID number until they are going through probate. At this point, the court will appoint somebody to be the executor of the will – and it is this person who will have to worry about obtaining a federal ID number for an estate. If you are not the executor, then you do not have to worry about trying to obtain a federal ID number.
The easiest way to get a federal ID number is to apply for one. Once you fill out the application, it will be processed, and in most cases you will get an identification number. While it is possible to be turned down for a federal ID number, that generally only happens to people who are trying to set up their own business and want a federal ID number for that.
Finally, due to the nature of estates, if you need a federal ID number for an estate you’ll have to get it directly from the IRS.