Estate planning options at ChoiceOne Bank
Preparing your ChoiceOne Bank accounts for estate transfer involves two primary strategies: designating beneficiaries on individual accounts and, where supported, retitling accounts into a revocable living trust. Both approaches bypass probate, but they work differently depending on the account type.
The transfer rules at ChoiceOne Bank vary across 17 accounts. Below is a breakdown of beneficiary options, trust funding, and which products support each method.
Beneficiary designation is not available for deposit accounts at ChoiceOne Bank.
Beneficiary designation is not available for retirement accounts at ChoiceOne Bank.
What ChoiceOne Bank says about trust accounts
Each section is ChoiceOne Bank's own statement, with the document it comes from numbered under Sources.
What ChoiceOne Bank says about trust accounts2
- Changing the owner of a policy or account
ChoiceOne does not remove a living person from an account. It closes the account and opens a new account with whomever needs to be listed.1
- Whether a new account is opened
Online, ChoiceOne opens single-ownership checking and savings accounts, for current and new customers; opening may take one to two business days.1
Accounts handled elsewhere1
- ChoiceOne Wealth
Serving as sole trustee, co-trustee or agent for a trustee, and holding trust assets in custody2, 3
Phone: 1-810-245-2953
Not in ChoiceOne Bank's published guidance13
- What the owner provides to name a beneficiary
- A beneficiary designation form
- An online way to name a beneficiary
- Who may be named as beneficiary
- How shares are split among beneficiaries
- What a designation takes to be effective
- Terms in its agreements for a beneficiary designation
- A pay-on-death beneficiary on a deposit account, for deposit accounts
- A procedure for holding an account in a trust
- Which trust documents it accepts
- A trust account form
- Terms in its agreements for a trust account
- How long a change takes
Sources
(2)·
Data sourced from ChoiceOne Bank primary sources (32 pages reviewed). How we research.
Download these ChoiceOne Bank instructions
A printable PDF with the steps, required documents, and contact details, verified against ChoiceOne Bank primary sources. Bring it to the branch or keep it beside the phone.
ChoiceOne Bank estate support
Customer Service
Phone
Spanish-language line
iTalk phone banking
Lost or stolen credit card (within the U.S.)
Hours
Office
Mailing address
Website
Estate requests go through general customer service.
Estate planning articles
Learn how to protect your ChoiceOne Bank accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
New Baby or Adoption
Your family is growing. Your protection should too. Guardian nominations, trusts for minors, beneficiary updates, and the documents new parents need in place.
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Marriage
What married couples need in place: one joint trust or two, wills, beneficiary updates, and the spousal rights your state grants you automatically.
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New Home
How to put your house in a revocable trust: the deed you record, what it does to your mortgage and property taxes, and when a TOD deed is simpler.
Learn more
Retirement
Retirement changes your financial picture. Healthcare directives, beneficiary reviews, long-term care planning, and protecting what you've built.
Learn moreForms for Planning Your Estate
Free forms for planning your estate: will, living trust, pour-over will, powers of attorney and TOD deed. Prepare each form for your state and download the PDF.
Revocable Living Trust
Create a revocable living trust to avoid probate, protect privacy, and control asset distribution.
Last Will and Testament
Name your heirs, guardians, and final wishes. Free for every state.
Codicil to a Will
Add, revoke or replace provisions of your will and republish the rest, signed as your state requires for a will.
Tools for Planning Your Estate
Free tools for planning your estate: will and trust costs, trust or TOD deed, and the signing rules. Run each tool for your state and read its answer.
How Much Does a Revocable Living Trust Cost?
Compare revocable living trust costs across providers including online services and attorneys.
How Does SimplyTrust Compare to LegalZoom, Trust & Will, and Other Services?
Compare what it costs to make a trust official across SimplyTrust, LegalZoom, Trust & Will, Rocket Lawyer, and Quicken WillMaker.
Do I Need a Revocable Trust?
Find out if a revocable trust makes sense based on your state, estate value, and family situation.
Trust or Will: Which Costs Less?
Compare the cost of probate vs a trust for your state and estate value.
How Much Is the Federal Gift Tax?
Whether a gift owes federal gift tax, how much of the annual exclusion and lifetime exemption it uses, and whether Form 709 is due.
What Does Estate Planning Actually Cost?
Compare costs across estate planning providers including online services and attorneys.
