How to name beneficiaries and fund a trust at Avantax

A non-retirement brokerage or advisory account takes a Transfer on Death registration on the custodian's paperwork.¹

A Traditional, Roth, Rollover, SEP or SIMPLE IRA takes the custodian's IRA beneficiary designation.¹

Annuity beneficiary changes go to the issuing carrier, not to Avantax or the custodian, on the carrier's own form.²

Life insurance beneficiary changes go to the issuing carrier, not to Avantax or the custodian, on the carrier's own form.²

A 529 plan is controlled by the successor account owner named with the plan program, not by a death beneficiary form. The successor owner is named on the 529 program's own application.³

A trust can be named as a beneficiary, by its exact name, the date it was established and the trustee names.¹

An IRA can name a trust as beneficiary.¹

A designation names primary and contingent beneficiaries, with a percentage allocation totaling 100% for each level.¹

The custodian's or carrier's form states its own requirements, including any spousal-consent or signature-guarantee box.^{1, 2}

For investment accounts. Sent by the institution on request.¹

For IRAs. Sent by the institution on request.¹

Sent by the institution on request.²

For 529 plans. Sent by the institution on request.³

A named beneficiary or TOD registration controls the account regardless of what a will says.¹

Only non-retirement accounts (brokerage, advisory and wrap) can be retitled into a trust.¹

IRAs and other qualified accounts cannot be retitled into a trust. They are handled by beneficiary designation instead.¹

Sent by the institution on request.¹

Sent by the institution on request.¹

The custodian opens a new account in the exact name of the trust, including its date, and moves the positions into it.¹

The trust document requirements are the custodian's, which the financial professional obtains. Ask for the custodian's own trust document checklist.¹

Supplies the beneficiary form when the Avantax financial professional cannot be reached⁴