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 Legal 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:
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 Legal can help you achieve your legacy goals.