How to name beneficiaries and fund a trust at Creative Planning
Beneficiaries are managed in branch, by phone or by mail. Trust paperwork is taken in branch, by phone or by mail
There are two ways to keep your Creative Planning investment accounts out of probate: adding beneficiary designations and retitling eligible accounts into a revocable living trust. Which approach works best depends on the account type and your overall estate plan.
Across 10 product types, Creative Planning investment accounts vary in how they transfer at death. The sections below walk through Transfer on Death (TOD) designations, trust funding options, and which products support each method.
Beneficiary form at Creative Planning
Custodian's transfer on death (TOD) form (Schwab or Fidelity) (for investment accounts) and Custodian's beneficiary designation form (Schwab or Fidelity) (for IRAs).
- Names, dates of birth, SSNs, relationships and allocation percentages for primary and contingent beneficiaries
- Trust name, date established and tax identification number where a trust is named
- Confirm which registration each form applies to: a TOD election on a taxable account and a beneficiary designation on an IRA are separate forms
Required Documents
- Beneficiary's full legal name, date of birth, SSN and relationship (for each primary and contingent beneficiary)
- Trust name, date established and tax identification number (when naming a trust)
- Government-issued photo ID (at a meeting with the wealth manager)
- Certificate of trust (when naming a trust, at a meeting with the wealth manager)
- Spousal consent (where required)
- The trust agreement or certificate of trust
- Government-issued ID for every trustee
- The trust EIN (irrevocable) or grantor SSN (revocable)
- A list of the accounts to be retitled and any outside accounts that also need funding
- The trust name exactly as it appears in the trust document
- The date the trust was executed
- The trust EIN if irrevocable, or the grantor's SSN if revocable
- Full trustee information, including successor trustees where the form asks
- A copy of the trust agreement or a certificate of trust
- Government-issued ID copies for every trustee
Required Documents
- Trust agreement or certificate of trust. The full trust agreement or a certificate of trust, the lighter-touch alternative the custodians generally prefer
- Government-issued ID (for every trustee). Copies are enclosed when the forms go by mail
- Trust EIN, or the grantor's SSN. The trust's EIN for an irrevocable trust; the grantor's SSN for a revocable trust
- Trust EIN documentation (IRS Letter 147C or SS-4 confirmation) (for an irrevocable trust)
- Exact trust name and date of execution. As written in the instrument
- Full trustee information, including successor trustees (where the form asks)
- Successor trustee certification on the custodian's form (when a successor is stepping in)
- List of the accounts to be retitled (at a meeting with the wealth manager). Include any outside accounts that also need funding
- Trust company agreement and fee schedule (when engaging Creative Planning Trust Company)
- Names, dates of birth, SSNs, relationships and allocation percentages for primary and contingent beneficiaries
- Trust name, date established and tax identification number where a trust is named
- Confirm which registration each form applies to: a TOD election on a taxable account and a beneficiary designation on an IRA are separate forms
Required Documents
- Beneficiary's full legal name, date of birth, SSN and relationship (for each primary and contingent beneficiary)
- Trust name, date established and tax identification number (when naming a trust)
- Government-issued photo ID (at a meeting with the wealth manager)
- Certificate of trust (when naming a trust, at a meeting with the wealth manager)
- Spousal consent (where required)
- Names, dates of birth, SSNs, relationships and allocation percentages for primary and contingent beneficiaries
- Trust name, date established and tax identification number where a trust is named
- Confirm which registration each form applies to: a TOD election on a taxable account and a beneficiary designation on an IRA are separate forms
Required Documents
- Beneficiary's full legal name, date of birth, SSN and relationship (for each primary and contingent beneficiary)
- Trust name, date established and tax identification number (when naming a trust)
- Government-issued photo ID (at a meeting with the wealth manager)
- Certificate of trust (when naming a trust, at a meeting with the wealth manager)
- Spousal consent (where required)
- The trust agreement or certificate of trust
- Government-issued ID for every trustee
- The trust EIN (irrevocable) or grantor SSN (revocable)
- A list of the accounts to be retitled and any outside accounts that also need funding
- The trust name exactly as it appears in the trust document
- The date the trust was executed
- The trust EIN if irrevocable, or the grantor's SSN if revocable
- Full trustee information, including successor trustees where the form asks
- A copy of the trust agreement or a certificate of trust
- Government-issued ID copies for every trustee
Required Documents
- Trust agreement or certificate of trust. The full trust agreement or a certificate of trust, the lighter-touch alternative the custodians generally prefer
- Government-issued ID (for every trustee). Copies are enclosed when the forms go by mail
- Trust EIN, or the grantor's SSN. The trust's EIN for an irrevocable trust; the grantor's SSN for a revocable trust
- Trust EIN documentation (IRS Letter 147C or SS-4 confirmation) (for an irrevocable trust)
- Exact trust name and date of execution. As written in the instrument
- Full trustee information, including successor trustees (where the form asks)
- Successor trustee certification on the custodian's form (when a successor is stepping in)
- List of the accounts to be retitled (at a meeting with the wealth manager). Include any outside accounts that also need funding
- Trust company agreement and fee schedule (when engaging Creative Planning Trust Company)
What Creative Planning says about beneficiaries and trusts
Each section is Creative Planning's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary2
- Investment account
A TOD election on a taxable account is made on the custodian's TOD form, separate from an IRA beneficiary designation.1
- IRA
An IRA cannot be owned by a trust, so a trust is named as the IRA's beneficiary instead, on the custodian's beneficiary designation form.1
Who can be named1
- A trust
A trust can be named as beneficiary, with its name, date established and tax identification number.1
How many beneficiaries, and how shares are split
- All accounts
The custodian's form lists each primary and contingent beneficiary with an allocation percentage.1
What a designation takes to be effective
- All accounts
A designation is made on the custodian's signed form and cannot be completed verbally, because the operative record sits with Schwab or Fidelity.2
Beneficiary forms Creative Planning issues2
- Custodian's transfer on death (TOD) form (Schwab or Fidelity)
For investment accounts. Completed by the account owner, returned to the wealth manager. Sent by the institution on request.1
- Custodian's beneficiary designation form (Schwab or Fidelity)
For IRAs. Completed by the account owner, returned to the wealth manager. Sent by the institution on request.1
What Creative Planning's agreement says about beneficiaries2
- A designation and a will
Creative Planning's published guidance says beneficiary designations take precedence over a will and are commonly decades out of date.4
- What the owner keeps while living
A client retains all rights of ownership in the account and may deal with the custodian directly, including to update a designation.5
Which accounts a trust can hold4
- Investment account
An existing taxable account is retitled into a trust on the custodian's books at Schwab or Fidelity, because Creative Planning holds no client assets and is not affiliated with any custodian.1
- IRA
IRAs, Roth IRAs, rollover and SEP IRAs cannot be owned by a trust. The trust is named as beneficiary instead.1
- Employer retirement plan
Employer plan accounts cannot be owned by a trust. The trust is named as beneficiary instead.1
- Trust account
Even with Creative Planning Trust Company as trustee, assets are generally not held in the trust company's name. They sit in segregated trust accounts at qualified third-party custodians identifying it as trustee.2
Trust account forms Creative Planning issues1
- Custodian's account retitling and trust registration forms (Schwab or Fidelity)
Completed by the wealth manager, signed by the trustees. Sent by the institution on request.1
What Creative Planning says about trust accounts2
- Fees
Creative Planning Trust Company charges fees separate from and in addition to Creative Planning's advisory fees.2
- Statements on a trust account
The custodian's record controls. Creative Planning asks clients to compare its reports against the custodian statements, and notes the custodian does not verify Creative Planning's figures.2
Accounts handled elsewhere4
- Charles Schwab & Company, Inc.
Custodian of the accounts; its forms carry designations and trust retitling1
- Fidelity Institutional Wealth Services
Custodian of the accounts; its forms carry designations and trust retitling1
- Creative Planning Trust Company, LLC
Corporate trustee, co-trustee and directed trust administration2
- Creative Planning Retirement Plan Services
Employer retirement plan accounts2
Phone: 1-866-427-4015
Not in Creative Planning's published guidance3
- A Creative Planning beneficiary form
- Creative Planning trust retitling forms
- A turnaround time for a beneficiary designation
Sources5
- 1.Custodian beneficiary designation, TOD and trust registration forms (Schwab or Fidelity)
- 2.Contact us
- 3.Locations
- 4.Creative Planning published guidance on beneficiary designations
- 5.Form ADV Part 2A brochure
Sources
Data sourced from Creative Planning primary sources (21 pages reviewed). How we research.
Download these Creative Planning instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Creative Planning primary sources. Bring it to the branch or keep it beside the phone.
Creative Planning estate support
Estate Planning and Trust Services
Phone
Trustee services / family office inquiries (main line)
Mailing address
Website
Estate planning articles
Learn how to protect your Creative Planning accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
New Baby or Adoption
Your family is growing. Your protection should too. Guardian nominations, trusts for minors, beneficiary updates, and the documents new parents need in place.
Learn more
Marriage
What married couples need in place: one joint trust or two, wills, beneficiary updates, and the spousal rights your state grants you automatically.
Learn more
New Home
How to put your house in a revocable trust: the deed you record, what it does to your mortgage and property taxes, and when a TOD deed is simpler.
Learn more
Retirement
Retirement changes your financial picture. Healthcare directives, beneficiary reviews, long-term care planning, and protecting what you've built.
Learn moreForms for Planning Your Estate
Free forms for planning your estate: a will, living trust, pour-over will, both powers of attorney, living will, and TOD deed.
Revocable Living Trust
Create a revocable living trust to avoid probate, protect privacy, and control asset distribution.
Last Will and Testament
Name your heirs, guardians, and final wishes. Free for every state.
Transfer on Death Deed
Transfer real property to a beneficiary upon your death without probate. Available in 34 states and the District of Columbia.
Tools for Planning Your Estate
Free tools for planning your estate: what a will or trust costs, whether you need a trust or TOD deed, and how documents are signed.
How Much Does a Revocable Living Trust Cost?
Compare revocable living trust costs across providers including online services and attorneys.
How Does SimplyTrust Compare to LegalZoom, Trust & Will, and Other Services?
Compare what it costs to make a trust official across SimplyTrust, LegalZoom, Trust & Will, Rocket Lawyer, and Quicken WillMaker.
Do I Need a Revocable Trust?
Find out if a revocable trust makes sense based on your state, estate value, and family situation.
Trust or Will: Which Costs Less?
Compare the cost of probate vs a trust for your state and estate value.
What Does Estate Planning Actually Cost?
Compare costs across estate planning providers including online services and attorneys.
How Much Life Insurance Do I Need?
Calculate your life insurance needs based on income, debts, and family situation.
