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    Join Date
    Sep 2017
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    Default How to Designate a Testamentary Trust as a Beneficiary of Financial Accounts

    My question involves estate proceedings in the state of: VA

    I created a simple will designating that a Testamentary Trust be created for each of my children. I am now going through my financial institutions and updating the secondary beneficiaries to list the Trusts. The institution forms all seem geared towards Living Trusts and are asking for Tax ID and Date of Trust creation. These Trusts will not be created until my death so the information they are asking for does not exist at this time. When I called each institution (Bank, Roth, 401K, stock, etc.) they don't seem to understand my question.

    What do I use for these fields (Tax ID and Date)?

    Also,
    How do I correctly list the beneficiary? Is this acceptable: "The <name of child> Trust created in my last Will and Testament"
    The Will refers to the trust simply as:
    ARTICLE FIVE
    <name of child 1> Trust

    ARTICLE SIX
    <name of child 2> Trust
    Thank you.

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