How to name beneficiaries and fund a trust at Camden National
Beneficiaries are managed in branch, by phone or by mail. Trust paperwork is taken in branch, by phone or by mail
Estate planning for your Camden National accounts starts with understanding how each one transfers at death. Beneficiary designations and trust retitling both bypass probate, but the right approach depends on the account type, your tax situation, and how much control you want over distributions.
With 14 product types, Camden National 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 Camden National
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 you (for each beneficiary)
- Government-issued photo ID (at a banking center)
- Account numbers for the accounts to be updated (by phone)
- Identity verification information (by phone, as the representative requests)
- Allocation percentages (on a mailed form, when naming more than one beneficiary)
- IRA Beneficiary Designation form, completed (for an IRA)
- Copy of the Certification of Trust (when naming a trust). May be required
- 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 the full trust agreement. A Certification of Trust (also called Trust Abstract or Affidavit of Trust); if there is none, a complete copy of the trust agreement
- Government-issued photo ID (for all trustees)
- Social Security number or Tax Identification Number (EIN) for the trust
- Amendments to the trust agreement (if there are any)
- Death certificates (if a grantor or trustee is deceased)
- 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 you (for each beneficiary)
- Government-issued photo ID (at a banking center)
- Account numbers for the accounts to be updated (by phone)
- Identity verification information (by phone, as the representative requests)
- Allocation percentages (on a mailed form, when naming more than one beneficiary)
- IRA Beneficiary Designation form, completed (for an IRA)
- Copy of the Certification of Trust (when naming a trust). May be required
What Camden National says about beneficiaries and trusts
Each section is Camden National'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
An IRA designation is made on the IRA Beneficiary Designation form, which has primary and contingent beneficiary sections.1
Who can be named1
- A trust
A trust can be named as beneficiary. A trust beneficiary designation may require a copy of the Certification of Trust.1
How many beneficiaries, and how shares are split
- All accounts
The mailed beneficiary form asks for allocation percentages when more than one beneficiary is named.1
What a designation takes to be effective
- Payable-on-death account
Under the deposit account agreement, a POD beneficiary change must be made by written direction in a form acceptable to the bank.2
- IRA
An IRA beneficiary change for a married account holder may require spousal consent.1
Beneficiary forms Camden National issues2
- IRA Beneficiary Designation form
For IRAs. Sent by the institution on request.1
- Beneficiary designation form
Sent by the institution on request.1
Return to
Mailing address: Camden National Bank, P.O. Box 310, Camden, ME 04843
What Camden National's agreement says about beneficiaries1
- A beneficiary who dies first
A POD beneficiary acquires withdrawal rights only by surviving all account owners by 90 days. Beneficiaries are treated as primary unless designated contingent.2
Which accounts a trust can hold4
- Trust account
Camden National Bank accepts both revocable and irrevocable trusts for deposit accounts.1
- Fiduciary account
Trust-titled accounts are distinct from the deposit account agreement's "FIDUCIARY ACCOUNT" category, which covers guardianship, conservatorship, formal trust and agency accounts and carries its own documentation demand.2
- IRA
IRA accounts cannot be retitled to a trust.1
- Health savings account
HSA accounts cannot be retitled to a trust.1
Trust account forms Camden National issues1
- Trust account application
Sent by the institution on request.1
Return to
Mailing address: Camden National Bank, P.O. Box 310, Camden, ME 04843
What Camden National says about trust accounts2
- Whether a new account is opened
An existing deposit account can be retitled to a trust without closing and reopening it, provided the same SSN or EIN is used.1
- Review of the trust document
Under the deposit account agreement's "TRUST - SEPARATE AGREEMENT" section, the bank may absolutely rely on the representations of you and your attorney as to the identity of the trustee and beneficiary named and the other terms of the trust.2
The same section gives the bank the right to require you or your attorney to complete a trust account certificate or other summary of the terms of the trust in a manner acceptable to the bank.2
Not in Camden National's published guidance1
- Online trust account application
Sources2
- 1.Camden National Bank banking center, phone and mail guidance
- 2.Camden National Bank deposit account agreement
Sources
(1)·
Data sourced from Camden National primary sources (16 pages reviewed). How we research.
Download these Camden National instructions
A printable PDF with the steps, required documents, and contact details, verified against Camden National primary sources. Bring it to the branch or keep it beside the phone.
Camden National estate support
Client relationship team (Camden National Wealth Management)
Phone
Website
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