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Trustee’s Certificate

Your Trustee’s Certificate of Trust

Your Financial Assets (including investment and brokerage accounts, money market accounts, CDs, mutual funds, etc.), your checking and savings accounts, and shares of stock (either physical certificates or stock held in book entry) must be retitled into the Trust by using the Trustee’s Certificate and a copy of the Trust (excluding the Trust’s distributive provisions, which are confidential). Present this document to your investment advisor, your bank, or your stock transfer agent, and they will assist you with titling these assets into your Trust to ensure that your Trust, and not you individually owns these assets.

You will use the Trustee’s Certificate to also change the beneficiary designation on any Life Insurance policies where you are the insured, and designate your Trust as the “pay on death beneficiary” of the policy, so that the Successor Trustee will be able to collect the death benefit and “pool” it into your Trust, where it will be shielded from the trust beneficiaries’ creditors.

Conversely, Tax Deferred Retirement Plans, such as tax-deferred Annuity Contracts, 401(k) Plans, 403(b) Plans, IRAs, pension plans, profit-sharing plans, or other company-sponsored retirement plans, may be eligible for an inherited rollover, which only an individual can do, and a Trust cannot. As such, depending on your specific circumstances, it might be more appropriate to name individuals, rather than your Trust as the “pay on death beneficiary” for these assets. This is one area where your Estate Planner and your Financial Advisor will work with you as a team to determine the most appropriate and tax-efficient beneficiary designation.

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