What is an Estate Identification Number?

An estate identification number (also called an EIN) is like a social security number for an estate.  This is how the government can keep track of income and assets of the estate for tax purposes (yes, income earned by an estate is subject to income tax).  You will need an estate identification number in order to open an estate account. If you are working with an attorney to help with the execution or administration of an estate then the attorney can get the EIN for you.