Retitling your assets in the name of your trust(s) may seem like an overwhelming chore, but it doesn’t have to be. Your Creative Planning team will help with every step of the process. They will advise you which assets should be retitled based on your estate plan and specific situation. Your attorney will provide you with a card that states the exact name of your trust. Be sure to refer to it as you retitle each of your assets.
Use the following checklist to help identify possible necessary changes.
Life insurance
- Complete a change of beneficiary form with your life insurance company.
- Owner – remains the same
- Beneficiary – change to owner’s trust
Real estate (primary residence, vacation home(s), rental properties, farmland, etc.)
- Come prepared with the deeds to your properties. Your Creative Planning Legal attorney can help with this.
- Owner – change to the owner’s trust
Investment accounts (stocks, bonds, mutual funds)
- Complete change of ownership/retitling forms with your brokerage firm.
- Owner – change to owner’s trust
Non-publicly traded corporate stock
- Gather your original stock certificates.
- Owner – change to owner’s trust
Retirement plans (IRAs, 401(k)s, SEPs, SIMPLEs, pension, etc.)
- Complete change of beneficiary forms from your employer and/or the firm that has custody of your retirement assets.
- Owner – remains the same
- Primary beneficiary – spouse, if married
- Secondary beneficiary – change to owner’s trust
- CAUTION! Retirement plan designations vary depending on your plan for distribution and your specific tax planning considerations. Consult with your Creative Planning Legal attorney before making any changes.
Schedule a complimentary, no-obligation consultation and learn more about how Creative Planning can help you achieve your legacy goals.
