Most bank accounts and financial accounts can be transferred to your Trust. Each bank has its own process, so check with your bank for information on its policies. Here are the general steps:
- Contact your bank to see what is required to transfer your accounts to the Trust. Your bank should provide any necessary forms.
- Complete and return the forms to your bank. Some banks ask you to complete a “Certificate of Trust” (Included in our Trust-based Estate Plan) form to provide some details about the Trust, but some banks require a complete copy of the Trust.
- Have the bank change the title to the Trustee of the Trust (described in the “How to Title Assets” article.) Most banks can change the ownership to the Trust and keep the same account numbers, but some banks may require new account numbers.
This information is intended as a reference only. It is not legal advice nor intended to cover every possible situation. Please consult an attorney if you have specific questions. Some details for funding your Trust may change over time. For example, if the Trustee changes, that would likely affect how you would title assets held in the Trust.