Estate Planning 101

How to Transfer a Edward Jones Retirement Account into a Trust

Take control of your financial planning and secure your retirement savings by learning the step-by-step process of transferring your Edward Jones Retirement Account into a trust with our detailed guide.
February 4, 2024

Are you an executor or trustee?

Snug can help you get organized by providing one place to store and analyze Wills, Trusts, and other essential documents. You can inventory finances, personal property, digital assets, insurance, and more.
Get started for free

Want to get organized?

Snug can help you organize all of life's details by providing one place to store and analyze Wills, Trusts, and other essential documents. You can inventory finances, personal property, digital assets, insurance, and more.
Get started for free

Want to offer estate planning?

Snug is a complete estate planning solution built for Financial Advisors who want to save time and offer their clients more. Whether you have an UHNW client who needs their documents analyzed or a mass affluent client getting their first Trust, we can help.
Get started for free

Need a Will or Trust?

Snug makes it easy to create a Will or Trust in under 20 minutes. Powers of Attorney and Health Care Directives are included for free with any Will or Trust, as is a year of free updates.
Get started for free

Estate planning is a crucial aspect of managing your wealth, and one of the key elements of this is setting up a trust. A trust allows you to transfer assets to a beneficiary under the direction of a trustee, ensuring that your assets are managed and distributed as per your wishes. An essential part of this process is transferring your retirement accounts into a trust. This article will guide you through transferring an Edward Jones retirement account into a trust.

Understanding the Process

Transferring a retirement account into a trust involves changing the ownership of the account from an individual's name to that of a trust. This requires certain documents, including the trust agreement and the trustee's identification, and the completion of specific forms provided by Edward Jones.

Step-by-Step Guide on Transferring an Edward Jones Retirement Account into a Trust

  1. Setting up a Trust: Before you can transfer your retirement account, you first need to set up a trust. For most people, this can be done online with services like Snug. However, for more complex situations, working with an attorney is highly recommended.
  2. Gathering the necessary documents: Once your trust is set up, gather necessary documents. These typically include a certified copy of the trust agreement, a document that shows the trustee's authority, and identification documents.
  3. Contacting Edward Jones customer service or visiting a local branch: Next, contact Edward Jones to inform them of your intention to transfer your retirement account into the trust. This can be done by calling their customer service line or by visiting your local branch. The Edward Jones' customer service number for personal banking is 1-800-441-2357. They are available Monday to Friday, 7 a.m. to 7 p.m. CT. It's always a good idea to visit the official Edward Jones website for additional assistance or your local Edward Jones branch.
  4. Completing the required forms and tasks: Edward Jones will provide you with the necessary forms to complete the transfer. These forms may require notarization, so be ready for this step.
  5. Confirming the transfer and updating account information: Once the forms are submitted and processed, Edward Jones will transfer the ownership of the account to the trust. It's crucial to update your account information and confirm that everything is in order.

Tips and Precautions

Though the process is straightforward, here are some tips to ensure a smooth transfer:

  1. Ensure all the information in your trust document is accurate and current.
  2. Keep copies of all documents and forms submitted to the financial institution.
  3. Make sure the trust has a Tax Identification Number (TIN), which is necessary for tax purposes.

Remember that transferring a retirement account into a trust means the account is no longer owned by an individual but by the trust. Always consult with a legal or financial advisor to understand the implications.

The Role of Edward Jones in the Transfer Process

Edward Jones is committed to assisting its customers throughout the transfer process. The company's representatives can guide you through each step, providing the necessary forms and documentation. They also offer resources on trust management and estate planning to help you make informed decisions.

Conclusion

Transferring an Edward Jones retirement account into a trust is a significant step in managing your financial assets. It ensures that your wealth is distributed according to your wishes and provides peace of mind for the future. Remember to seek professional advice during this process to avoid any legal or financial pitfalls. With careful planning and guidance, you can secure your financial legacy effectively.