How to name beneficiaries and fund a trust at Ascend FCU
Beneficiaries are managed in branch, by phone or by mail. Trust paperwork is taken in branch, by phone or by mail
Estate planning at Ascend FCU means getting each account set up so it transfers automatically when you die—either through a POD beneficiary or trust ownership. Because Ascend FCU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Without one of these in place, accounts may require probate before your family can access the funds.
Ascend FCU offers 26 accounts, each with its own transfer rules. The sections below cover how to set up beneficiaries, fund a trust, and which products support each approach.
Beneficiary form at Ascend FCU
Ascend Account Application.
- "Sole Owner": on your death the funds are payable to your estate or as otherwise allowed by law
- "Sole Owner Designates Beneficiary Upon Death": funds and proceeds go to the beneficiary named on your most recent Account Application
- "Joint Owners have Right of Survivorship": the account passes to the surviving owner(s) with no beneficiary step
- "Joint Owner(s) with Right of Survivorship with Designated Beneficiary Upon Death of All Owners": the balance goes to the named beneficiary only after the last surviving owner dies
- Primary and contingent beneficiary names, dates of birth, Social Security numbers and relationships
- Percentage allocations where more than one beneficiary is named
- Sign it; free notary service is available at Ascend branches if anything you send needs notarizing
Required Documents
- Beneficiary's full name (for each beneficiary)
- Beneficiary's date of birth (for each beneficiary)
- Beneficiary's Social Security number (for each beneficiary)
- Beneficiary's relationship to you (for each beneficiary)
- Contingent beneficiary's name, date of birth, Social Security number and relationship (when naming a contingent beneficiary by mail)
- Percentage allocation (if you name more than one beneficiary)
- Government-issued photo ID (at a branch)
- Full trust agreement or Certificate of Trust
- Government-issued photo ID for all trustees
- Trust tax identification number (EIN), or the grantor's SSN for a revocable trust
- Copy of the trust agreement or Certificate of Trust
- Copies of government-issued photo ID for all trustees
- Trust EIN or SSN
Required Documents
- Full trust agreement or Certificate of Trust. Either is taken. A Certificate of Trust is also called an Abstract of Trust or Certification of Trust. By mail, a copy is sent
- Government-issued photo ID (for each trustee). By mail, copies are sent
- Trust tax identification number. The trust's EIN, or the grantor's SSN for a revocable trust
- Account Application in the trust name
- "Sole Owner": on your death the funds are payable to your estate or as otherwise allowed by law
- "Sole Owner Designates Beneficiary Upon Death": funds and proceeds go to the beneficiary named on your most recent Account Application
- "Joint Owners have Right of Survivorship": the account passes to the surviving owner(s) with no beneficiary step
- "Joint Owner(s) with Right of Survivorship with Designated Beneficiary Upon Death of All Owners": the balance goes to the named beneficiary only after the last surviving owner dies
- Primary and contingent beneficiary names, dates of birth, Social Security numbers and relationships
- Percentage allocations where more than one beneficiary is named
- Sign it; free notary service is available at Ascend branches if anything you send needs notarizing
Required Documents
- Beneficiary's full name (for each beneficiary)
- Beneficiary's date of birth (for each beneficiary)
- Beneficiary's Social Security number (for each beneficiary)
- Beneficiary's relationship to you (for each beneficiary)
- Contingent beneficiary's name, date of birth, Social Security number and relationship (when naming a contingent beneficiary by mail)
- Percentage allocation (if you name more than one beneficiary)
- Government-issued photo ID (at a branch)
- Full trust agreement or Certificate of Trust
- Government-issued photo ID for all trustees
- Trust tax identification number (EIN), or the grantor's SSN for a revocable trust
- Copy of the trust agreement or Certificate of Trust
- Copies of government-issued photo ID for all trustees
- Trust EIN or SSN
Required Documents
- Full trust agreement or Certificate of Trust. Either is taken. A Certificate of Trust is also called an Abstract of Trust or Certification of Trust. By mail, a copy is sent
- Government-issued photo ID (for each trustee). By mail, copies are sent
- Trust tax identification number. The trust's EIN, or the grantor's SSN for a revocable trust
- Account Application in the trust name
- "Sole Owner": on your death the funds are payable to your estate or as otherwise allowed by law
- "Sole Owner Designates Beneficiary Upon Death": funds and proceeds go to the beneficiary named on your most recent Account Application
- "Joint Owners have Right of Survivorship": the account passes to the surviving owner(s) with no beneficiary step
- "Joint Owner(s) with Right of Survivorship with Designated Beneficiary Upon Death of All Owners": the balance goes to the named beneficiary only after the last surviving owner dies
- Primary and contingent beneficiary names, dates of birth, Social Security numbers and relationships
- Percentage allocations where more than one beneficiary is named
- Sign it; free notary service is available at Ascend branches if anything you send needs notarizing
Required Documents
- Beneficiary's full name (for each beneficiary)
- Beneficiary's date of birth (for each beneficiary)
- Beneficiary's Social Security number (for each beneficiary)
- Beneficiary's relationship to you (for each beneficiary)
- Contingent beneficiary's name, date of birth, Social Security number and relationship (when naming a contingent beneficiary by mail)
- Percentage allocation (if you name more than one beneficiary)
- Government-issued photo ID (at a branch)
- "Sole Owner": on your death the funds are payable to your estate or as otherwise allowed by law
- "Sole Owner Designates Beneficiary Upon Death": funds and proceeds go to the beneficiary named on your most recent Account Application
- "Joint Owners have Right of Survivorship": the account passes to the surviving owner(s) with no beneficiary step
- "Joint Owner(s) with Right of Survivorship with Designated Beneficiary Upon Death of All Owners": the balance goes to the named beneficiary only after the last surviving owner dies
- Primary and contingent beneficiary names, dates of birth, Social Security numbers and relationships
- Percentage allocations where more than one beneficiary is named
- Sign it; free notary service is available at Ascend branches if anything you send needs notarizing
Required Documents
- Beneficiary's full name (for each beneficiary)
- Beneficiary's date of birth (for each beneficiary)
- Beneficiary's Social Security number (for each beneficiary)
- Beneficiary's relationship to you (for each beneficiary)
- Contingent beneficiary's name, date of birth, Social Security number and relationship (when naming a contingent beneficiary by mail)
- Percentage allocation (if you name more than one beneficiary)
- Government-issued photo ID (at a branch)
What Ascend FCU says about beneficiaries and trusts
Each section is Ascend FCU's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary3
- IRA
IRA beneficiary designations are handled by the IRA/Certificate Support team, separately from deposit-account PODs.1
- Certificate of deposit
For a certificate, ask Member Services for an IRA/Certificate Support Representative.1
- Convenience account
An "Additional Authorized Signatory" is not a beneficiary. The Membership Agreement says funds remaining at death may become part of the estate.2
Ascend is authorized to keep honoring an authorized signatory's checks and orders until it is notified of revocation or of the owner's death.2
Beneficiary forms Ascend FCU issues1
- Ascend Account Application
Completed by the member, in a branch or on paperwork requested from Member Services. Sent by the institution on request.2
Return to
Phone: 1-800-342-3086
Mailing address: Ascend Federal Credit Union, P.O. Box 1210, Tullahoma, TN 37388
What Ascend FCU's agreement says about beneficiaries1
- Changing or revoking a designation
Under the Membership Agreement the POD beneficiary is whoever is named on the most recent Account Application. A new Application supersedes the old designation, and an older signed application does not control.2
Ascend keeps no separate standing beneficiary register; the controlling record is the most recent Account Application.2
What Ascend FCU says about trust accounts4
- Whether a new account is opened
Existing accounts generally have to be closed and reopened in the trust name rather than relabeled.1
- Membership
The $5.00 membership share must stay open to keep membership alive.1
- Fees
An Account Closing Fee of $15.00 applies if the account was opened 60 days or less ago.1
- Certificates moved into a trust
Share Certificate and IRA Share Certificate accounts are nontransferable and nonnegotiable, so a certificate is retitled by closing and reopening, which can trigger the early withdrawal penalty.1
Accounts handled elsewhere1
- Ascend Retirement & Investment Services (LPL Financial)
Beneficiaries and trust titling for investment accounts held through LPL Financial1
Phone: 1-931-454-2967
Not in Ascend FCU's published guidance2
- An online way to name a beneficiary
- A beneficiary form to download
Sources2
Sources
(2)·
Data sourced from Ascend FCU primary sources (22 pages reviewed). How we research.
Download these Ascend FCU instructions
A printable PDF with the steps, required documents, and contact details, verified against Ascend FCU primary sources. Bring it to the branch or keep it beside the phone.
Ascend FCU estate support
Member Services
Phone
Street address
Local (Tullahoma)
IRA/Certificate Support (ask for a representative)
Retirement & Investment Services (LPL Financial)
STAR automated phone banking (toll-free)
STAR automated phone banking (local)
Lost/Stolen Card (business hours)
Lost/Stolen Card (after hours)
Mailing address
Website
Estate requests go through general customer service.
Estate planning articles
Learn how to protect your Ascend FCU accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
New Baby or Adoption
Your family is growing. Your protection should too. Guardian nominations, trusts for minors, beneficiary updates, and the documents new parents need in place.
Learn more
Marriage
What married couples need in place: one joint trust or two, wills, beneficiary updates, and the spousal rights your state grants you automatically.
Learn more
New Home
How to put your house in a revocable trust: the deed you record, what it does to your mortgage and property taxes, and when a TOD deed is simpler.
Learn more
Retirement
Retirement changes your financial picture. Healthcare directives, beneficiary reviews, long-term care planning, and protecting what you've built.
Learn moreForms for Planning Your Estate
Free forms for planning your estate: will, living trust, pour-over will, powers of attorney and TOD deed. Prepare each form for your state and download the PDF.
Revocable Living Trust
Create a revocable living trust to avoid probate, protect privacy, and control asset distribution.
Last Will and Testament
Name your heirs, guardians, and final wishes. Free for every state.
Codicil to a Will
Add, revoke or replace provisions of your will and republish the rest, signed as your state requires for a will.
Tools for Planning Your Estate
Free tools for planning your estate: will and trust costs, trust or TOD deed, and the signing rules. Run each tool for your state and read its answer.
How Much Does a Revocable Living Trust Cost?
Compare revocable living trust costs across providers including online services and attorneys.
How Does SimplyTrust Compare to LegalZoom, Trust & Will, and Other Services?
Compare what it costs to make a trust official across SimplyTrust, LegalZoom, Trust & Will, Rocket Lawyer, and Quicken WillMaker.
Do I Need a Revocable Trust?
Find out if a revocable trust makes sense based on your state, estate value, and family situation.
Trust or Will: Which Costs Less?
Compare the cost of probate vs a trust for your state and estate value.
How Much Is the Federal Gift Tax?
Whether a gift owes federal gift tax, how much of the annual exclusion and lifetime exemption it uses, and whether Form 709 is due.
What Does Estate Planning Actually Cost?
Compare costs across estate planning providers including online services and attorneys.
