How to name beneficiaries and fund a trust at Ally Bank
Beneficiaries are managed online or by phone. Trust paperwork is taken online, by phone or by mail
There are two ways to keep your Ally Bank accounts out of probate: adding beneficiary designations and retitling eligible accounts into a revocable living trust. Which approach works best depends on the account type and your overall estate plan.
With 16 product types, Ally Bank 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.
Beneficiary form at Ally Bank
Change of Beneficiary form (for IRAs).
- Select Add Beneficiary and choose the account (only one account can be updated at a time)
- Enter the beneficiary name, relationship, date of birth and Social Security number
- The account you want the designation on
- Beneficiary name, relationship, date of birth and Social Security number
Required Documents
- Beneficiary's name
- Beneficiary's relationship to you
- Beneficiary's date of birth
- Beneficiary's Social Security number
- The account to carry the designation (by phone)
- Formal trust name and the trust's Social Security number or EIN
- Grantor and trustee names, addresses, dates of birth and identification
- Upload the Certification of Trust or the required trust agreement pages
- Formal trust name, trust tax ID (SSN or EIN) and the date the trust was established
- Trustee names, addresses, dates of birth and identification
- The Account Application for Trusts to open a new trust-titled account
- The Trust Conversion Request to retitle an existing personal account into a revocable trust that uses the same Social Security number
- Pages describing the trust, with the formal names of the Trust, Grantors and Trustees
- Pages covering trustee powers and succession on incapacity or death of a trustee
- Notarized signature pages showing grantor and trustee signatures
- All amendments to the original trust agreement
- Death certificate for any deceased grantor or trustee
Required Documents
- Certification of Trust or the written trust agreement. A Certification of Trust may be called a Trust Abstract, Affidavit of Trust or Memorandum of Trust. Without one, Ally takes the specified trust agreement pages
- Trust pages naming the trust, grantors and trustees (if there is no Certification of Trust). The pages describing the trust, with the formal names of the Trust, Grantors and Trustees
- Trust pages on trustee powers and succession (if there is no Certification of Trust). Covering succession on the incapacity or death of a trustee
- Notarized signature pages (if there is no Certification of Trust). With grantor and trustee signatures. Some states use a separate notary page
- List of the beneficiaries who receive the funds if the grantor dies. Called for on both the Trust Account Application and the Trust Conversion Request
- All amendments to the original trust agreement (for a revocable trust)
- Death certificate (if a grantor or trustee has died)
- Will pages for a testamentary trust (for a testamentary trust). The first page of the will, the pages describing the trust, and the signature and notary pages
- Government-issued ID (for every trustee)
- Trust Social Security number or EIN
- Formal trust name and the date the trust was established (when applying online or by phone)
- Grantor and trustee names, addresses, dates of birth and identification (when applying online or by phone)
- Select Add Beneficiary and choose the account (only one account can be updated at a time)
- Enter the beneficiary name, relationship, date of birth and Social Security number
- The account you want the designation on
- Beneficiary name, relationship, date of birth and Social Security number
Required Documents
- Beneficiary's name
- Beneficiary's relationship to you
- Beneficiary's date of birth
- Beneficiary's Social Security number
- The account to carry the designation (by phone)
- Formal trust name and the trust's Social Security number or EIN
- Grantor and trustee names, addresses, dates of birth and identification
- Upload the Certification of Trust or the required trust agreement pages
- Formal trust name, trust tax ID (SSN or EIN) and the date the trust was established
- Trustee names, addresses, dates of birth and identification
- The Account Application for Trusts to open a new trust-titled account
- The Trust Conversion Request to retitle an existing personal account into a revocable trust that uses the same Social Security number
- Pages describing the trust, with the formal names of the Trust, Grantors and Trustees
- Pages covering trustee powers and succession on incapacity or death of a trustee
- Notarized signature pages showing grantor and trustee signatures
- All amendments to the original trust agreement
- Death certificate for any deceased grantor or trustee
Required Documents
- Certification of Trust or the written trust agreement. A Certification of Trust may be called a Trust Abstract, Affidavit of Trust or Memorandum of Trust. Without one, Ally takes the specified trust agreement pages
- Trust pages naming the trust, grantors and trustees (if there is no Certification of Trust). The pages describing the trust, with the formal names of the Trust, Grantors and Trustees
- Trust pages on trustee powers and succession (if there is no Certification of Trust). Covering succession on the incapacity or death of a trustee
- Notarized signature pages (if there is no Certification of Trust). With grantor and trustee signatures. Some states use a separate notary page
- List of the beneficiaries who receive the funds if the grantor dies. Called for on both the Trust Account Application and the Trust Conversion Request
- All amendments to the original trust agreement (for a revocable trust)
- Death certificate (if a grantor or trustee has died)
- Will pages for a testamentary trust (for a testamentary trust). The first page of the will, the pages describing the trust, and the signature and notary pages
- Government-issued ID (for every trustee)
- Trust Social Security number or EIN
- Formal trust name and the date the trust was established (when applying online or by phone)
- Grantor and trustee names, addresses, dates of birth and identification (when applying online or by phone)
- Select Add Beneficiary and choose the account (only one account can be updated at a time)
- Enter the beneficiary name, relationship, date of birth and Social Security number
- The account you want the designation on
- Beneficiary name, relationship, date of birth and Social Security number
Required Documents
- Beneficiary's name
- Beneficiary's relationship to you
- Beneficiary's date of birth
- Beneficiary's Social Security number
- The account to carry the designation (by phone)
What Ally Bank says about beneficiaries and trusts
Each section is Ally Bank's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary2
Who can be named3
- A trust, payable-on-death accounts
A trust can be a payable-on-death beneficiary, but not through the online flow: customer care gives instructions specific to the situation by phone.1
- A minor, payable-on-death accounts
A minor can be a payable-on-death beneficiary, but not through the online flow: customer care gives instructions specific to the situation by phone.1
- A charity or nonprofit, payable-on-death accounts
A charity can be a payable-on-death beneficiary, but not through the online flow: customer care gives instructions specific to the situation by phone.1
How many beneficiaries, and how shares are split
- Payable-on-death account
Deposit accounts have no primary or contingent designations: contingent beneficiaries are not available, and the named beneficiaries share the balance.2
- IRA
An Ally Bank IRA takes up to 6 beneficiaries, primary and contingent combined, and a primary must be named before a contingent.1
What a designation takes to be effective
- IRA
Married residents of community property states submit a notarized Change of Beneficiary form signed by the spouse to name a beneficiary other than the spouse.1
Beneficiary forms Ally Bank issues1
- Change of Beneficiary form
For IRAs. Completed by the account owner, signed by the spouse. Sent by the institution on request. Must be notarized.1
What Ally Bank's agreement says about beneficiaries1
- A beneficiary who dies first
Only beneficiaries living when all owners have died take. A predeceased beneficiary's share is split proportionally among the surviving beneficiaries.1
Which accounts a trust can hold2
- Trust account
CDs, Checking (Spending), Savings and Money Market accounts can be held in a trust.3
Ally opens accounts only for personal trusts created for the benefit of individuals or families: revocable, irrevocable or testamentary. Business and corporate trusts are not eligible.4
- IRA
IRAs cannot be titled to a trust.3
Trust account forms Ally Bank issues3
- Account Application for Trusts
Available to download.5
Return to
Fax: 1-866-699-2969
Mailing address: Ally Bank, PO Box 951, Horsham, PA 19044
- Trust Conversion Request
Available to download.6
Return to
Fax: 1-866-699-2969
Mailing address: Ally Bank, PO Box 951, Horsham, PA 19044
- Trust/Trustee Maintenance Request
Available to download.7
Return to
Mailing address: Ally Bank, PO Box 951, Horsham, PA 19044
What Ally Bank says about trust accounts4
- Whether a new account is opened
An individual or joint account can be converted to a trust account when the account owners are also the grantors of the trust.4
An existing personal account is retitled to the trust on the Trust Conversion Request, provided the same SSN stays on the account.6
- Changing or revoking a designation
Any POD or ITF beneficiary on a converted account is removed at conversion, and the trust agreement then governs distribution.6
- Who signs for the trust
A trust account can have only one owner, the trust itself, but it can carry multiple trustees. Ally states that any individual named as a trustee in the trust documentation can manage the account and transact on it.4
Ally will not accept a power of attorney on a trust account, or on any other fiduciary account.4
The Deposit Agreement states Ally will assume any trustee named in the trust agreement or Certification of Trust may act individually for the trust.2
- Successor trustees
The Deposit Agreement states Ally will not act as trustee or successor trustee under any circumstances.2
Trustee changes after opening, including the death or resignation of a trustee, adding a trustee or a change to the formal trust name, go on the Trust/Trustee Maintenance Request.7
Accounts handled elsewhere1
- Ally Invest Securities
Beneficiary designations for Ally Invest brokerage accounts and Ally Invest IRAs8, 9
Fax: 1-866-699-0563
Mailing address: Ally Invest Securities, PO Box 30248, Charlotte, NC 28230
Not in Ally Bank's published guidance1
- A beneficiary form to download
Sources9
- 1.Ally Bank beneficiaries help
- 2.Ally Bank Deposit Agreement
- 3.Ally Bank view rates and open an account
- 4.Ally Bank trust account guidance
- 5.Account Application for Trusts, UPDATED 12/2025
- 6.Trust Conversion Request, UPDATED 03/2025
- 7.Trust/Trustee Maintenance Request, UPDATED 03/2025
- 8.Ally Invest Transfer on Death (TOD) Beneficiary Designation Request
- 9.IRA Beneficiary Designation Request
Sources
Data sourced from Ally Bank primary sources (34 pages reviewed). How we research.
Download these Ally Bank instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Ally Bank primary sources. Bring it to the branch or keep it beside the phone.
Ally Bank estate support
Trust Support (call 1-877-247-2559, press 5, then 4 for Trust)
Phone
Fax
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Mailing address
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