Estate Planning 101

How to Transfer a Fidelity Investment Account into a Trust

Navigate the process of transferring your Fidelity Investment account into a trust seamlessly with our step-by-step guide. Learn the importance of planning your financial future and the benefits of having your investments under a trust.
February 4, 2024

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Estate planning often involves transferring assets into a trust - a legal entity that holds assets for the benefit of certain other persons or entities. Investment accounts, such as those with Fidelity, are a significant part of many people's assets and transferring these into a trust can be a vital part of estate planning. This article will guide you through the process of transferring a Fidelity investment account into a trust.

Understanding the Process

The process involves changing the ownership of the account from an individual's name to that of a trust. This requires certain documents, including a certified copy of the trust agreement, a document that shows the trustee's authority, and identification documents. Additionally, Fidelity may require you to complete certain forms.

Step-by-Step Guide on Transferring a Fidelity Investment Account into a Trust

  1. Setting up a Trust: Before you can transfer your investment account, you first need to set up a trust. This can be done using online services or with the assistance of an attorney, depending on the complexity of your situation.
  2. Gathering the necessary documents: Once your trust is established, gather the necessary documents. These typically include a certified copy of the trust agreement, a document confirming the trustee's authority, and identification documents.
  3. Contacting Fidelity customer service or visiting a local branch: Next, contact Fidelity to let them know you want to transfer your investment account into the trust. Fidelity can be reached at 1-800-343-3548, or you can visit a local Investor Center.
  4. Completing the required forms and tasks: Fidelity will provide you with the necessary forms to complete the transfer. These forms may require notarization, so be prepared for this step.
  5. Confirming the transfer and updating account information: Once the forms are submitted and processed, Fidelity will transfer the ownership of the account to the trust. Make sure to update your account information and ensure everything is correct.

Tips and Precautions

Here are a few tips to ensure a smooth transfer:

  1. Ensure all the information in your trust document is accurate and up-to-date.
  2. Keep copies of all documents and forms submitted to Fidelity.
  3. Make sure the trust has a Tax Identification Number (TIN), as it is required for tax purposes.

Remember, transferring an investment 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 Fidelity in the Transfer Process

Fidelity plays a significant role in facilitating the transfer process. The company's representatives can guide you through the steps and provide the necessary forms and documentation. They also offer resources on trust management and estate planning, helping you make informed decisions.

Conclusion

Transferring a Fidelity investment account into a trust is an important step in managing your financial assets. It ensures your wealth is distributed according to your wishes and provides a sense of financial security for the future. Remember to seek professional advice during this process to avoid any legal or financial pitfalls. Secure your financial legacy today.