How to name beneficiaries and fund a trust at American Savings Bank
Beneficiaries are managed in branch, by phone or by mail. Trust paperwork is taken in branch, by phone or by mail
The key to protecting your American Savings Bank accounts is making sure each one has a transfer mechanism in place—either a beneficiary designation or trust ownership. Without one, the account goes through probate, adding time, cost, and court involvement for your family.
With 13 product types, American Savings 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 American Savings Bank
IRA Beneficiary Designation form (for IRAs) and Beneficiary designation form.
- For deposit accounts: request POD (Payable on Death) designation with beneficiary full legal name, date of birth, Social Security number, and relationship
- For IRA accounts: complete the IRA Beneficiary Designation form with primary and contingent beneficiary sections
- Account number(s) for the accounts to be updated
- Identity verification information as requested by the representative
- Full legal name, date of birth, Social Security number, and relationship for each beneficiary
- Allocation percentages for multiple beneficiaries
Required Documents
- Beneficiary's full legal name (for each beneficiary)
- Beneficiary's date of birth (for each beneficiary)
- Beneficiary's Social Security number (for each beneficiary)
- Beneficiary's relationship to the owner (for each beneficiary)
- Allocation percentages (on the mailed form, for more than one beneficiary)
- Copy of the Certification of Trust (when naming a trust). May be required
- Valid government-issued photo ID (at a branch)
- Account numbers for the accounts to be updated (by phone)
- Identity verification information (by phone, as the representative requests)
- Certification of Trust or complete trust agreement
- Trust Tax Identification Number (EIN) or Social Security number if using the grantor SSN
- Trust name exactly as it appears in the trust document
- EIN or SSN for the trust
- Trustee names and contact information
Required Documents
- Certification of Trust or full trust agreement. A Certification of Trust is also called a Trust Abstract or Affidavit of Trust. Without one, a complete copy of the trust agreement
- Valid government-issued photo ID (for all trustees)
- Social Security number or Tax Identification Number (EIN) for the trust
- Amendments to the original trust agreement (where the trust has been amended)
- Acceptance of appointment as Successor Trustee (where a successor is acting)
- Death certificates (if a grantor or trustee is deceased)
- Trust name exactly as it appears in the trust document (on the trust account application)
- Trustee names and contact information (on the trust account application)
- For deposit accounts: request POD (Payable on Death) designation with beneficiary full legal name, date of birth, Social Security number, and relationship
- For IRA accounts: complete the IRA Beneficiary Designation form with primary and contingent beneficiary sections
- Account number(s) for the accounts to be updated
- Identity verification information as requested by the representative
- Full legal name, date of birth, Social Security number, and relationship for each beneficiary
- Allocation percentages for multiple beneficiaries
Required Documents
- Beneficiary's full legal name (for each beneficiary)
- Beneficiary's date of birth (for each beneficiary)
- Beneficiary's Social Security number (for each beneficiary)
- Beneficiary's relationship to the owner (for each beneficiary)
- Allocation percentages (on the mailed form, for more than one beneficiary)
- Copy of the Certification of Trust (when naming a trust). May be required
- Valid government-issued photo ID (at a branch)
- Account numbers for the accounts to be updated (by phone)
- Identity verification information (by phone, as the representative requests)
What American Savings Bank says about beneficiaries and trusts
Each section is American Savings Bank's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary2
- Payable-on-death account
For deposit accounts, the owner requests a POD (payable on death) designation.1
- IRA
For IRA accounts, the owner completes the IRA beneficiary designation with primary and contingent beneficiary sections.1
ASB contacts IRA beneficiaries itself after a death, and an out-of-date beneficiary address stalls that contact.1
How many beneficiaries, and how shares are split
- All accounts
The beneficiary designation form asks for allocation percentages when there is more than one beneficiary.1
Beneficiary forms American Savings Bank issues2
- IRA Beneficiary Designation form
For IRAs. Provided at a branch.1
- Beneficiary designation form
Sent by the institution on request.1
Return to
Mailing address: American Savings Bank, P.O. Box 2300, Honolulu, HI 96804-2300
What American Savings Bank's agreement says about beneficiaries1
- A designation and a will
ASB states that POD accounts are not subject to probate or to the terms of a trust, so a POD designation overrides what the trust says about that money.2
Which accounts a trust can hold3
- Trust account
ASB accepts both revocable and irrevocable trusts for deposit accounts.2
- IRA
An IRA cannot be retitled to a trust.2
- Business account
Business account opening treats a trust as its own entity type and requires the Trust Agreement.2
Trust account forms American Savings Bank issues1
- Trust account application
Sent by the institution on request.2
Return to
Mailing address: American Savings Bank, P.O. Box 2300, Honolulu, HI 96804-2300
What American Savings Bank says about trust accounts1
- Successor trustees
ASB states that a trust only governs accounts which were owned by the trust at the time of the individual's death.2
ASB states that a trustee is not entitled even to information about an account owned by an individual person at the time of their death.2
Not in American Savings Bank's published guidance1
- A beneficiary form to download
Sources2
- 1.American Savings Bank guidance on beneficiary designations
- 2.American Savings Bank guidance on trust accounts
Sources
(3)·
Data sourced from American Savings Bank primary sources (17 pages reviewed). How we research.
Download these American Savings Bank instructions
A printable PDF with the steps, required documents, and contact details, verified against American Savings Bank primary sources. Bring it to the branch or keep it beside the phone.
American Savings Bank estate support
Successor Relations - CRS Department
Phone
Mailing address
Website
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