QUESTION

how do i transfer stocks, bank accts, ira's to a living trust?

Asked on May 10th, 2015 on Trusts and Estates - California
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1 ANSWER

Each asset has different rules. Generally for banks, stocks, mutual funds and similar assets you would contact your financial planner or financial institution. You would provide them information about the trust (name, date, trustees, etc...) and they would update their records to reflect trust ownership.  For real estate, including timeshares, you would record deeds with the county to transfer them into the trust.  For life insurance you likely want to make the trust the primary beneficiary.  IRAs and other retirement accounts is a loaded question. There can be negative ramifications with naming your trust as a beneficiary so it's really important to go over those options with your attorney or your financial planner.  Remember failure to properly fund a trust can leave a big mess for your loved ones so get it done right!  Best of luck with a complete trust funding!  -John
Answered on May 12th, 2015 at 6:54 AM

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