How to name beneficiaries and fund a trust at Wells Fargo Advisors

Only accounts owned by individuals are eligible for transfer on death registration.¹

Annuities, assets held at mutual fund companies, certificated mutual fund shares, commodities, life insurance policies, non-publicly-traded limited partnership interests, physical certificates and precious metals are not TOD-eligible and pass to the last surviving owner's estate.¹

Wells Fargo does not offer transfer on death registration to non-United States residents.^{3, 1}

Joint accounts with rights of survivorship, including tenants by the entirety, are eligible for TOD registration.¹

Tenants-in-common accounts are not eligible for TOD registration.¹

Because only accounts owned by individuals are eligible for transfer on death registration, a trust-owned account carries no TOD beneficiary.¹

Traditional, Roth, SEP/SAR-SEP, SIMPLE and inherited IRAs take a beneficiary on the IRA Add/Change of Beneficiary form.²

A trust can be named as beneficiary on the TOD form, with all trustees and the date the trust was established listed.¹

A trust can be named as beneficiary on the IRA beneficiary form.²

A trust not yet in existence, including a testamentary trust, is not honored as a TOD beneficiary.¹

An estate is not honored as a TOD beneficiary.¹

A minor beneficiary requires a named UTMA custodian.^{1, 2}

An existing trust or another entity can be named as a TOD beneficiary.³

An entity can be named as beneficiary, identified by its tax identification number.^{1, 2}

Percentages must total 100%.^{1, 2}

Choosing "Per Stirpes" requires naming an authorized party to certify the identity of unnamed beneficiaries.^{1, 2}

On the TOD form, blank percentages are divided equally.¹

All account owners sign the Transfer on Death Application and Agreement.¹

Spousal consent in a community property state is the account owner's responsibility. The forms carry no spousal-consent section.^{1, 2}

For investment accounts. Completed by all account owners. Available to download.¹

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For IRAs. Available to download.²

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The designation takes effect only after Wells Fargo Advisors accepts it. Only the most recent accepted TOD application is honored.¹

A TOD beneficiary has no rights in the account until all account owners have died.¹

A TOD designation takes precedence over any designation or disposition in a will, a trust or another instrument.³

TOD registration is not offered to Louisiana residents.¹

TOD registration is not offered to Puerto Rico residents.¹

Completed by all trustees. Available to download.⁴

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Available to download.⁵

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A trust account is opened, and cash or securities move into it by journal from the individual account with a Letter of Authorization.^{6, 5}

All trustees sign the Trustee Certification. A single signature is treated as a representation that the signer is the sole trustee.⁴

Wells Fargo Clearing Services relies on the Trustee Certification and does not review the trust document.⁴

For a trust governed by Tennessee law, the Trustee Certification names the first successor trustees.⁴