How to name beneficiaries and fund a trust at Busey
Covers 14 deposit, 2 retirement, and 7 lending accounts — beneficiaries must be updated in-branch
Busey Customer Care
Busey Bank, 100 W University Ave, Champaign, IL 61820
Busey Wealth Management - Trust Services & Estate Advisory (contact via web form; no direct phone line published)
Busey Customer Care
Busey Bank, 100 W University Ave, Champaign, IL 61820
There are two ways to keep your Busey 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.
Busey has 23 accounts with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
- Full legal name and identifying information for each beneficiary
- Designate primary and contingent beneficiaries
- Percentage allocations if naming multiple beneficiaries
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Beneficiary changes for deposit accounts typically require in-branch documentation
- IRA beneficiary designations are handled separately from deposit account POD designations
- Joint account holders may need to agree on beneficiary designations
Sources
Data sourced from Busey primary sources (15 pages reviewed). How we research.
Download these Busey instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Busey primary sources. Bring it to the branch or keep it beside the phone.
Busey Customer Care
Busey Bank, 100 W University Ave, Champaign, IL 61820
Busey Wealth Management - Trust Services & Estate Advisory (contact via web form; no direct phone line published)
Busey Customer Care
Busey Bank, 100 W University Ave, Champaign, IL 61820
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