TRUST FUNDING ASSISTANCE SYSTEM™
Step 5: VERIFY
Confirm the result and retain the evidence.
You submitted the required information or documents. Now make sure the requested change was actually completed.
Check what the institution actually processed. A submitted form is not proof that an account, asset, or beneficiary designation was updated.
A receipt or acknowledgment may confirm only that paperwork arrived, not that the requested action was completed.
Institutions may take time to process a request, ask for additional information, or occasionally process something differently than expected.
Compare the response with the confirmed request and instructions. Refer questions requiring professional interpretation.
VERIFY is where you confirm the result and keep evidence for the approved client file.
WHAT TO VERIFY
Review the updated record and confirm:
• The institution processed your request.
• The ownership or registration is shown correctly.
• The trust name and date are accurate, when applicable.
• Beneficiary information is correct, when applicable.
• Any requested changes appear exactly as intended.
• You have written or electronic evidence of the completed change.
Do not rely only on a verbal confirmation when written or electronic verification is available.
WHAT COUNTS AS VERIFICATION?
Depending on the asset or institution, verification may include:
• An updated account statement
• An updated ownership or registration record
• Written confirmation from the institution
• A beneficiary confirmation
• A recorded deed or other recorded document
• A secure message confirming completion
• Another reliable record showing the requested change was completed
Keep the verification with the approved client file.
IF SOMETHING IS NOT RIGHT
If something is missing, incorrect, or still processing, document the issue and next action. Do not mark the item verified simply because the institution responded.
Follow up with the institution and provide any additional information that is appropriately required. Record who is responsible for the next action and the follow-up date.
If the issue raises a legal, tax, financial, insurance, or planning question, obtain appropriate professional guidance before taking further action.
Retain supporting confirmation in the approved client file.
Mark the item verified only when documented evidence shows that the completed action matches the confirmed request and instructions.
Practice: Maria and James
First, assume the bank replies, “Your request has been received.” Keep the item pending.
Next, assume an updated record and written confirmation arrive. Practice comparing them with the confirmed request, identifying any discrepancy, and saving the evidence. Obtain clarification if anything remains uncertain.
Before you continue
First, assume the bank replies, “Your request has been received.” Keep the item pending.
Next, assume an updated record and written confirmation arrive. Practice comparing them with the confirmed request, identifying any discrepancy, and saving the evidence. Obtain clarification if anything remains uncertain.
Before moving to COMPLETE, you should be able to identify the evidence supporting each verified item and where it is saved. For anything unresolved, record its current status, the next action, who is responsible, and the follow-up date.
An acknowledgment of receipt is not confirmation of completion.