How to name beneficiaries and fund a trust at Atlantic FCU

POD designations are available on checking, savings, money market, club and youth savings accounts.¹

POD designations are available on certificate accounts.¹

An IRA beneficiary is set on the account's own beneficiary designation, not by a POD form. This covers Traditional, Roth and SEP IRAs and IRA certificates.¹

An HSA beneficiary is set on the account's own beneficiary designation, not by a POD form.¹

A Coverdell ESA names its own designated beneficiary when it is opened.¹

A trust can be named as the POD beneficiary of an eligible deposit account.¹

Each beneficiary is given a percentage allocation, and the percentages must total 100%.¹

For payable-on-death accounts. Completed by the account owner. Sent by the institution on request.^{1, 2}

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For IRAs. Sent by the institution on request.¹

For health savings accounts. Sent by the institution on request.¹

The change takes effect when Atlantic processes it.³

An IRA cannot be retitled into a trust.¹

An HSA cannot be retitled into a trust.¹

Provided at a branch.³

Existing accounts can be retitled into the trust's name, or new trust accounts can be opened.¹

The Consumer Account Fee Schedule states that it "applies to Estate, Fiduciary, Health Savings, Personal (Consumer) & Trust Accounts," so a trust account is priced on the same schedule as a personal account.⁴

Estate planning, through advisors separate from the credit union⁵