How to Get Your Assets into Your Trust

A common estate planning mistake many people make is not ensuring the trust you have created holds all your assets. Unfortunately, most lawyers simply do not make sure this is properly handled for their clients, so if you’ve worked with any law office other than mines, you need to double check this critical issue. If you do not transfer your assets into your trust, it is an empty shell and does nothing to accomplish the objectives you had in mind when you established it.


Here are the proper procedures for funding your trust:


Real estate


A new deed in the name of the trust must be drawn and recorded.


Stocks, bonds, mutual funds


To transfer the ownership of these assets into your trust, you need to contact your broker, investment counselor or transfer agent for the proper paperwork and complete those documents as instructed.


Savings bonds


You will need to obtain a reissue form from the Federal Reserve Bank and re-title the bonds in the name of the trust.


Brokerage accounts


Contact your broker for the proper forms that will enable the broker to close the existing accounts and transfer the assets into a new trust account.


Stock certificates


You will need to send a completed “stock power” form as well as a W-9 form with your tax ID number with the original stock certificates to the company’s transfer agent.


Bank accounts, CDs


New accounts will need to be established in the name of the trust. If your bank cannot transfer CDs until the maturity date, then mark them “in trust for” a beneficiary until the CDs mature and you can transfer them to the trust.


As your partner in planning for the financial security of yourself and your family, I would never let your trust go unfunded. My concern for you doesn’t stop with the signing of any legal documents -- I will always follow up with you to ensure everything has been done properly so you are fully protected.


This article is a service of the Law Office of Keoni Souza, LLC, an estate planning law firm in Honolulu, Hawaii. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Family Wealth Planning Session, ™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by contacting our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.


DISCLAIMER: All information available at this website are for informational purposes only and is not legal advice. You should contact an attorney directly regarding your specific situation. Use of and access to this website or any of the email links contained within the site do not create an attorney-client relationship between the Law Office of Keoni Souza, LLC and any users or any other party.

BLOG

CONTACT US

 

810 Richards Street,

Suite 770,

Honolulu, HI 96813

(808) 725-3456

  • Instagram
  • Twitter
  • Facebook Social Icon

All information available on this website is for informational purposes only and is not legal advice. You should contact an attorney directly regarding your specific situation. The use of and access to this website or the transmission of information via email or through this website does not create an attorney-client relationship between the Law Office of Keoni Souza, LLC and any users or any other party. Transmission of information via email or through this website may not be secure, therefore confidentiality cannot be assumed.  By using this website or transmitting information via email or this website, the user agrees to this information being collected, stored, or transmitted to a third-party.

©2020 BY LAW OFFICE OF KEONI SOUZA, LLC