How to name beneficiaries and fund a trust at Alerus
Covers 5 deposit, 1 investment, 6 retirement, and 1 hsa accounts — beneficiaries can be managed online
Alerus Financial Client Service Center
Alerus Corporate Office, PO Box 6001, Grand Forks, ND 58206-6001
Alerus Wealth - Trust and Fiduciary
Alerus Financial, N.A., PO Box 6001, Grand Forks, ND 58206-6001
Alerus Retirement and Benefits Client Service Center (plan and HSA death benefits); Alerus Financial (deposit and wealth accounts)
Alerus Retirement and Benefits, PO Box 64535, St. Paul, MN 55164-0535
Estate planning for your Alerus accounts starts with understanding how each one transfers at death. Beneficiary designations and trust retitling both bypass probate, but the right approach depends on the account type, your tax situation, and how much control you want over distributions.
With 13 product types, Alerus offers a range of transfer options. Some accounts support Payable on Death (POD) designations, others can be retitled into a trust, and some require probate if no beneficiary is designated. The sections below break down each step.
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Alerus states plainly for retirement plans: unless your spouse consents via notarized waiver, you cannot designate someone else as the primary beneficiary for your account
- To name a trust as retirement beneficiary, Alerus requires documentation creating the trust — a signed separate trust agreement, or a will with trust provisions
- Alerus Retirement and Benefits directs participants to revisit beneficiaries after marriage, divorce, and the birth or adoption of a child; a divorce does not automatically remove a former spouse from an existing designation
- A divorce may require a QDRO before a retirement plan balance can be divided or reassigned
- HSA: a spouse beneficiary inherits the HSA as their own HSA; a non-spouse beneficiary receives a balance that ceases to be an HSA
Sources
Data sourced from Alerus primary sources (15 pages reviewed). How we research.
Download these Alerus instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Alerus primary sources. Bring it to the branch or keep it beside the phone.
Alerus Financial Client Service Center
Alerus Corporate Office, PO Box 6001, Grand Forks, ND 58206-6001
Alerus Wealth - Trust and Fiduciary
Alerus Financial, N.A., PO Box 6001, Grand Forks, ND 58206-6001
Alerus Retirement and Benefits Client Service Center (plan and HSA death benefits); Alerus Financial (deposit and wealth accounts)
Alerus Retirement and Benefits, PO Box 64535, St. Paul, MN 55164-0535
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