In order to complete your living trust and protect your assets, you will need to transfer the title of any assets you already have into your trust. Titled assets include: bank accounts, safe deposit boxes, public market brokerage accounts, private stock holdings, investment fund interests, vehicles, real estate, and businesses. For instructions on how to transfer your assets, see below.
Bank accounts, safe deposit boxes, and public market brokerage accounts:
You will need to contact the appropriate institutions and tell them you want to transfer your accounts into your living trust. In order to do this, they may ask for a copy of your trust which can be found in your Dynasty dashboard.
You will need to contact the stock administrator at the company who issued your shares and tell them that you want to transfer your stock into your living trust. In order to do this, they may ask for your trust details which can be found in your Dynasty dashboard.
Investment fund interests
You will need to contact the investment firm and tell them that you want to transfer your holdings into your living trust. In order to do this, they may ask for your trust details which can be found in your Dynasty dashboard.
Not all states allow vehicles to be titled in trust and some insurance carriers will also give you a hard time about it. If you want to see if it’s possible you will need to contact your local DMV and ask them for the right process. It’s also a good idea to get approval from your insurance carrier prior to doing so.
To transfer your real estate into your trust, a new deed titled in the name of your trust must be signed, notarized, and sent to the appropriate county recorder’s office based on the location of your property. For more information, contact the county recorder for the property you want to transfer.
For assistance with any of this, please contact Dynasty. We are happy to help!