Trust Administration

The administration of a Trust requires transferring assets, a complex process, and it is important to consult with experts like the

Littorno Law Group, to ensure that you are doing it correctly. However, here is a general overview of the steps involved in transferring real estate deeds, investment accounts, bank accounts, CDs, etc:Real estate deedsTo transfer a real estate deed, you will need to complete an Affidavit of Death and later a Grant Deed. The Grant Deed will typically require the following information:

• The names of the grantor (the person who is transferring the property i.e the successor trustee) and the grantee (the trust beneficiary who is receiving the property)
• A legal description of the property (we conduct a title search)
• The date of the transfer
• The notarized signatures of the grantor and the grantee

Once the deed transfer form is complete, it will need to be recorded with the county clerk’s office in the county where the property is located. We are able to do this electronically in many counties.

Investment account transfers

To transfer an investment account, you will need to contact the brokerage firm or other financial institution where the account is held. The brokerage firm or financial institution will typically require you to complete a transfer form. The transfer form will typically require the following information:

• The name of the account you are transferring from
• The name of the account you are transferring to
• The amount of money you are transferring
• The date of the transfer

Bank accounts

To transfer a bank account, you will need to contact the bank where the account is held. The bank will typically require you to complete a Certification of Trust and other transfer forms. The transfer form will typically require the following information:

• The name of the account you are transferring from
• The name of the account you are transferring to
• The amount of money you are transferring
• The date of the transfer

CDs

To transfer a CD, you will need to contact the bank where the CD is held. The bank will typically require you to complete a transfer form. The transfer form will typically require the following information:

• The name of the account you are transferring from
• The amount of money you are transferring
• The date of the transfer

It is important to note that there may be early withdrawal penalties and fees associated with transferring assets. You should check with the brokerage firm, bank, or financial institution where the asset is held to see what fees may apply.

You should also be aware that transferring assets may have tax implications. You should consult with a tax advisor, like the Littorno Law Group, to determine the tax implications of transferring any assets.

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