Submit the following to complete the requirement for Trusts and Estates
- This web form (Parent Trusts and Estates) for each distinct trust/estate that your household has any % of interest in
This document is required because the student indicated on his/her HLS Main Online Institutional Application that your household either currently receives income from a trust/estate OR your household is the future beneficiary of income/assets held within an IRREVOCABLE trust/estate. If you feel this document is listed in error, please contact our office: firstname.lastname@example.org.
This information is required because the student is applying for HLS need-based grant assistance. Understanding the financial circumstances of trusts/estates is a critical component of our ability to make accurate, complete, and fair determinations of need-based aid eligibility to our students. We have developed this form in cooperation with a nationally-recognized CPA who specializes in business evaluation and financial aid, in an effort to ensure an equitable distribution of our need-based grant and loan resources.
In most cases, submission of this form is sufficient and no more data will be requested in order to determine the student’s eligibility for aid; however, in some cases, upon reviewing this data along with the student’s application for aid in general, a Financial Aid Officer may decide to request more detailed information from your household which may include, but is not limited to, the following:
- Federal trust tax documents
- A copy of the actual trust agreement
- Documentation of the actual value of the trust corpus
If more information is needed from you, an Officer will contact after your file has gone to review to obtain these documents.
A special note for step-parent(s)
HLS requires data from both biological parents and from step-parents if a biological parent has remarried. If the trust/estate in question is the primary activity of the step-parent, we will not use the income generated from this trust/estate in the determination of the student’s eligibility for need based aid since we do not include step-parents’ income in our analysis of need. However we still need to collect data on trusts/estates because we do factor the net worth of all parental assets into our determination of the student’s eligibility for aid. For biological parents that have remarried we compile total net worth and then divide it in half to remove the 50% that belongs to the step-parent from our eligibility calculation.
PLEASE NOTE THE FOLLOWING BEFORE YOU BEGIN THIS FORM:
- This is a single session form which means that you need to complete the whole form in one session. You cannot complete a portion of the form now and then return at a different time to finish it.
- We suggest you read through the form before you begin to determine what back up data you need to have ready in order to successfully complete the entire form in one session.
- We estimate it will take between 20 and 30 minutes for you to complete this form depending on your specific circumstances.
- The “Submit Button” will only be enabled if you have filled in all of the REQUIRED Fields. REQUIRED Fields are denoted with an “*”.