How to name beneficiaries and fund a trust at Chevy Chase Trust

A trust can be named as a beneficiary, with its exact name, the date it was established and its tax ID.¹

The designation sets primary and contingent allocation percentages for each beneficiary.¹

Chevy Chase Trust will not accept a beneficiary change over the phone alone. The change is made on paperwork the owner signs and returns to the Senior Trust Officer.¹

Completed by the account owner. Sent by the institution on request.¹

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The Wealth Access client portal is reporting-only: holdings, taxlot detail, transaction history, statements, and Quicken or Excel export. The only change the firm's FAQ describes handling through it is which accounts you can view.^{2, 3}

The firm FAQ's "processed within two (2) business days" commitment applies to adding or changing which accounts you can view in Chevy Chase Trust Online, not to a beneficiary change.³

Prospective clients are subject to a $3,000,000 relationship minimum and a $35,000 minimum annual fee.¹

Chevy Chase Trust offers a Trust Advisory Account registration and can serve as trustee, co-trustee, or agent for the designated fiduciary on it.¹

A trust-titled account here is not a bank account. It is an advisory account whose assets are held in custody in the name of the sub-custodian, Reliance Trust Company, for the benefit of Chevy Chase Trust and further credit to the client.⁴

Form ADV Part 2A says "the assets in a CCTC custody account do not become the assets of RTC but remain the assets of CCTC's respective clients."⁴

Completed by the trustee. Sent by the institution on request.¹

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The Planning & Fiduciary team reviews the trust for the powers the registration depends on: trustee authority to hold and direct securities, successor trustee provisions, and whether the firm is to act as trustee or hold the account for an outside trustee.¹

The firm can be named trustee on the same account it manages. Where it is, no successor trustee has to be located at death and no account has to be reopened.¹

The firm charges differently when acting as trustee or administrator of an estate, so appointing it trustee, co-trustee, or agent for the designated fiduciary changes the fee schedule.¹

Custody of client assets, the custody statements, and the custody records that carry the registration⁴