Estate planning at CPB
How to protect 16 CPB accounts — manage beneficiaries in-branch, fund a trust in-branch, and file claims through CPB's Trust and Asset Management Division
Customer Service Center
Central Pacific Bank, P.O. Box 3590, Honolulu, HI 96811
Trust and Asset Management Division
Central Pacific Bank, Trust and Asset Management, 220 South King Street, Honolulu, HI 96813
Customer Service Center (estate notification) / Trust and Asset Management (estate settlement)
Central Pacific Bank, P.O. Box 3590, Honolulu, HI 96811
CPB offers 16 consumer accounts that interact with estate planning in distinct ways. Of those, 14 can name a trust as beneficiary or be retitled into a trust. Understanding the transfer methods available for each account type helps families keep assets out of probate and ensure they pass to the right people.
CPB lets account holders update beneficiary designations in branch, by mail, and by phone, typically taking 15-30 minutes in branch; longer by mail. Trust funding is also available, allowing families to retitle accounts into the name of a revocable living trust.
CPB has documented procedures for both preparing accounts during your lifetime and handling claims when an account holder passes away.
Preparing your estate
Beneficiaries and trust funding
How to update beneficiaries in-branch, fund a trust in-branch, and review 16 account types at CPB.
View details →When someone dies
Death claim process
Contact CPB's Trust and Asset Management Division to file a claim. 8-step process, 8 required documents, and contact information for survivors.
View details →For questions about any of these procedures, contact CPB's Trust and Asset Management Division at 1-800-342-8422.
CPB operates in select states, so estate planning procedures may vary by location. Confirm availability in your state before initiating trust funding or account changes.
Frequently asked questions
The published Miscellaneous Fee Schedule (FEE-001) prices the things estates actually need: statement reconciliation, research, or a special request is $35 per hour with a one-hour minimum; statement copies are $5 each ($25 for rush service) and check copies $4 each; a medallion signature guarantee (needed to transfer stock certificates) is $25 and is available only at select branches, waived for Exceptional Plan customers and for customers moving assets to CPB Wealth Management; notary service is $5 per signature per document, also at select branches; moving an inherited IRA to another custodian is $50, and taking an IRA distribution by check is $12 per check. Leaving the account open is its own cost: a checking account with no transactions for 18 consecutive months (30 months for savings) is classified dormant and charged $10 per month, abandoned funds are eventually remitted to the State of Hawaii, and the escheat fee is $55. If the decedent had a safe deposit box and the keys cannot be found, the drill fee is $200.
Yes, through its Trust and Asset Management division, which is separate from the deposit side of the bank. It serves as corporate trustee, co-trustee, or agent for the trustee on revocable and irrevocable trusts, and offers special needs trusts, directed trusts, custodial accounts, guardianship of property, rollover IRAs, and probate and estate settlement services -- the Trust and Investment Services brochure lists inventorying and safeguarding assets, recordkeeping, making court appearances, working with your attorney, filing tax returns and other necessary papers, distributing assets, and communicating with interested parties. The Personal Trust Manager's published line is (808) 544-3544, and the main line is (808) 544-0500 / 1-800-342-8422. Trust Division accounts are NOT FDIC insured, are not a deposit or obligation of the bank, and are subject to investment risk. On a self-trusteed deposit account (a "Formal Trust Account"), by contrast, CPB acts only as custodian and has no duty to inquire into a trustee's powers.
Sources
Data sourced from CPB primary sources (15 pages reviewed). How we research.
Customer Service Center
Central Pacific Bank, P.O. Box 3590, Honolulu, HI 96811
Trust and Asset Management Division
Central Pacific Bank, Trust and Asset Management, 220 South King Street, Honolulu, HI 96813
Customer Service Center (estate notification) / Trust and Asset Management (estate settlement)
Central Pacific Bank, P.O. Box 3590, Honolulu, HI 96811
Estate planning articles
Learn how to protect your CPB accounts and other assets with trusts, beneficiary designations, and estate planning documents.
