Estate planning at Cathay Bank
How to protect 15 Cathay Bank accounts — manage beneficiaries in-branch, fund a trust in-branch, and file claims through Cathay Bank's Cathay Wealth Management (Cetera Investment Services LLC) -- wealth transfer and estate planning advisory; Cathay Bank does not operate a trust department
Cathay Bank Customer Service Center
Cathay Bank, 777 North Broadway, Los Angeles, CA 90012
Cathay Wealth Management (Cetera Investment Services LLC) -- wealth transfer and estate planning advisory; Cathay Bank does not operate a trust department
Cathay Bank Customer Service Center -- deceased account holder and estate matters (no separate claims department; branches handle estate documentation)
Cathay Bank, 777 North Broadway, Los Angeles, CA 90012
Cathay Bank has 15 accounts, each with different rules for what happens when the account holder dies. Of those, 10 can name a trust as beneficiary or be retitled into a trust. The right combination of beneficiary designations and trust ownership can keep the entire portfolio out of probate.
Managing beneficiaries at Cathay Bank is straightforward—changes can be made in branch, by mail, and by phone, typically taking 15-30 minutes in branch. Trust funding is also available, allowing families to retitle accounts into the name of a revocable living trust.
Cathay Bank provides specific procedures for both proactive estate planning and filing claims after a death.
Preparing your estate
Beneficiaries and trust funding
How to update beneficiaries in-branch, fund a trust in-branch, and review 15 account types at Cathay Bank.
View details →When someone dies
Death claim process
Contact Cathay Bank's Cathay Wealth Management (Cetera Investment Services LLC) -- wealth transfer and estate planning advisory; Cathay Bank does not operate a trust department to file a claim. 6-step process, 8 required documents, and contact information for survivors.
View details →Cathay Bank's Cathay Wealth Management (Cetera Investment Services LLC) -- wealth transfer and estate planning advisory; Cathay Bank does not operate a trust department can answer questions about beneficiaries, trusts, or death claims at 1-877-722-8429.
Cathay Bank is not available nationwide. Estate planning procedures may vary by state, so confirm that your location is served before making account changes.
Frequently asked questions
Cathay Bank calls this a Formal Trust Account, and its Deposit Account Agreement is specific about the paperwork: the trustees must provide either a Certification of Trust signed by ALL trustees and supported by the applicable excerpts from the trust agreement, or a full copy of the trust agreement. Bring government-issued photo ID for every trustee and the trust EIN (or the grantor's Social Security number for a revocable living trust). Trust account setup and retitling happen at a branch, not in online banking. Keep your amendments with the trust file -- the agreement lets Cathay Bank require additional certifications and documentation to support any change in the trust agreement or the opening of additional accounts by the trust. IRA CDs cannot be retitled to a trust.
No. Cathay Bank digital banking does not support P.O.D., Totten Trust, or IRA beneficiary changes, and the bank publishes no downloadable beneficiary form. The Deposit Account Agreement says a P.O.D. payee may be changed only "by written direction to us," so the change is made on signed paperwork at a branch, or on forms you request by calling 1-800-922-8429 and return by mail to Cathay Bank, 777 North Broadway, Los Angeles, CA 90012. IRA CD beneficiaries require a separate IRA beneficiary designation form -- the deposit-account P.O.D. designation does not carry over to an IRA.
Sources
Data sourced from Cathay Bank primary sources (21 pages reviewed). How we research.
Cathay Bank Customer Service Center
Cathay Bank, 777 North Broadway, Los Angeles, CA 90012
Cathay Wealth Management (Cetera Investment Services LLC) -- wealth transfer and estate planning advisory; Cathay Bank does not operate a trust department
Cathay Bank Customer Service Center -- deceased account holder and estate matters (no separate claims department; branches handle estate documentation)
Cathay Bank, 777 North Broadway, Los Angeles, CA 90012
Estate planning articles
Learn how to protect your Cathay Bank accounts and other assets with trusts, beneficiary designations, and estate planning documents.
