The process of transferring your assets from your individual name to the name of your living trust is commonly referred to as "Funding." Funding consists of several steps. The first step is to obtain documents that inform us exactly how each of your assets is owned and to obtain appropriate forms to permit the naming of new beneficiaries for your life insurance, annuity and retirement assets (see list below). We ask you to obtain the necessary forms with respect to life insurance, annuity and retirement assets, as it is almost impossible for us to obtain them due to privacy issues. Step 2 is the preparation of documents for your signature which, when processed, will accomplish the objective of funding your trust. Step 3 is obtaining written confirmation that all of your assets are now a part of your trust centered estate plan.
According, please provide the following items at your earliest convenience:
- A photocopy of a recent statement for each checking, savings, money market or certificate of deposit account you maintain at any bank, credit union or other financial institutions;
- A photocopy of a recent statement for each investment, dividend reinvestment, direct registration, mutual fund, or safekeeping account you maintain with any brokerage firm or transfer agent;
- A photocopy of any stock or bond certificates you hold, including closely held corporations, publicly traded corporations, municipal bonds and United States Savings Bonds;
- A photocopy of the Articles of Organization, Operating Agreement, Partnership Agreement or Subscription Agreement for any limited liability company, partnership or limited partnership interest either of you own;
- A photocopy of the deed for any real property you own including your residence;
- A photocopy of a recent statement for each of your retirement accounts, including your pension, 401(k) and IRA accounts;
- A blank change of beneficiary form for each of your retirement accounts;
- A recent statement for each annuity contract you own;
- A blank change of beneficiary form for each annuity contract;
- A photocopy of a recent annual statement for each life insurance policy you own on your own life or on anyone else (such as children or grandchildren);
- A blank change of beneficiary form for any employer provided life insurance; and
- A blank change of beneficiary form for each life insurance policy you own on your own life or on anyone else (other than employer provided life insurance).