How to name beneficiaries and fund a trust at Bank of the Sierra
Covers 10 deposit, 1 retirement, and 2 lending accounts — beneficiaries must be updated in-branch
Customer Service Center
Bank of the Sierra, P.O. Box 1930, Porterville, CA 93258
Customer Service Center
Bank of the Sierra, P.O. Box 1930, Porterville, CA 93258
Customer Service Center (no separate estate-claims department; death claims are worked at a branch or through Customer Service)
Bank of the Sierra, P.O. Box 1930, Porterville, CA 93258
There are two ways to keep your Bank of the Sierra 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.
Bank of the Sierra has 13 accounts with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
- For deposit accounts: request a Payable on Death (POD) designation, or an informal "Totten Trust" / in-trust-for (ITF) titling, with each payee's full legal name, date of birth, Social Security number, and relationship
- For IRA accounts: complete the IRA beneficiary designation paperwork the banker provides, naming primary and contingent beneficiaries
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- POD beneficiary designations cannot be added or changed through online banking; they require a branch visit or paper forms provided by Bank of the Sierra
- A POD payee must survive the death of all account owners to take anything; a payee who predeceases the last owner takes nothing (Comprehensive Deposit Disclosure, Payable on Death Account)
- Multiple surviving POD payees share equally unless an unequal split is expressly reflected in the Bank's records
- A trust named as payee, and any trust-titled account, requires a Certification of Trust or the trust agreement; the deposit agreement also requires fiduciaries to indemnify the bank
- California is a community property state; an IRA or HSA beneficiary change by a married account holder may require spousal consent
Sources
Data sourced from Bank of the Sierra primary sources (17 pages reviewed). How we research.
Download these Bank of the Sierra instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Bank of the Sierra primary sources. Bring it to the branch or keep it beside the phone.
Customer Service Center
Bank of the Sierra, P.O. Box 1930, Porterville, CA 93258
Customer Service Center
Bank of the Sierra, P.O. Box 1930, Porterville, CA 93258
Customer Service Center (no separate estate-claims department; death claims are worked at a branch or through Customer Service)
Bank of the Sierra, P.O. Box 1930, Porterville, CA 93258
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