Beneficiary info
My husband’s aunt wants to name him as a beneficiary to her trust. She asked for his SSN and he doesn’t want to give it. She said her financial advisor at STONEX requested it.
Is this info normally required ?
Terry Says
No, this is not a legal requirement. Typically all that is required is a name, address, and date of birth, and sometimes relationship (ie spouse, child friend) — if you are designating an IRA or 40l(k) beneficiary. But in these days of documentation, many firms may require them.
Read this: https://legalclarity.org/do-you-need-someones-social-security-number-to-add-them-as-a-beneficiary/
I do think your husband should ask “what kind of trust” this is. Is it her entire estate plan in a Revocable Living Trust? Is he also the “successor trustee” — or just a beneficiary of the proceeds?? Or is it an IRA or other retirement account?
He needs to know, not necessarily how much money is involved, but what type of account and any responsibilities he might have in the future.
Once he knows this, I wouldn’t be concerned about providing his SSN.
