How to name beneficiaries and fund a trust at Citizens Business Bank
Beneficiaries are managed in branch or by phone. Trust paperwork is taken in branch
Preparing your Citizens Business 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.
Citizens Business Bank has 20 product types, and the estate transfer rules differ across them. Some support Payable on Death (POD) designations, some can be retitled into a trust, and others pass through the estate if nothing is set up. Each is covered below.
- Full legal name
- Date of birth
- Social Security number
- Address
- Relationship to account holder
- Full legal name
- Date of birth
- Social Security number
- Relationship to account holder
Required Documents
- Government-issued photo ID
- Beneficiary's full legal name
- Beneficiary's date of birth
- Beneficiary's Social Security number
- Beneficiary's address (in branch)
- Beneficiary's relationship to the account holder
- Full trust agreement or Certification of Trust
- Government-issued photo ID for each trustee
- Trust tax identification number (EIN, or grantor SSN for a revocable trust)
Required Documents
- Trust agreement or Certification of Trust
- Government-issued photo ID (for each trustee)
- Trust tax identification number. An EIN, or the grantor's SSN for a revocable trust
- Amendments or restatements of the trust agreement (if there are any)
- Full legal name
- Date of birth
- Social Security number
- Address
- Relationship to account holder
- Full legal name
- Date of birth
- Social Security number
- Relationship to account holder
Required Documents
- Government-issued photo ID
- Beneficiary's full legal name
- Beneficiary's date of birth
- Beneficiary's Social Security number
- Beneficiary's address (in branch)
- Beneficiary's relationship to the account holder
- Full trust agreement or Certification of Trust
- Government-issued photo ID for each trustee
- Trust tax identification number (EIN, or grantor SSN for a revocable trust)
Required Documents
- Trust agreement or Certification of Trust
- Government-issued photo ID (for each trustee)
- Trust tax identification number. An EIN, or the grantor's SSN for a revocable trust
- Amendments or restatements of the trust agreement (if there are any)
- Full legal name
- Date of birth
- Social Security number
- Address
- Relationship to account holder
- Full legal name
- Date of birth
- Social Security number
- Relationship to account holder
Required Documents
- Government-issued photo ID
- Beneficiary's full legal name
- Beneficiary's date of birth
- Beneficiary's Social Security number
- Beneficiary's address (in branch)
- Beneficiary's relationship to the account holder
What Citizens Business Bank says about beneficiaries and trusts
Each section is Citizens Business Bank's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary3
- Payable-on-death account
POD beneficiaries are added or updated on deposit accounts: checking, savings, Premium Money Market, CDs and CDARS. The bank handles these accounts.1
- IRA
An IRA takes a beneficiary designation rather than a POD designation. Bank IRAs are handled by the bank.1
- Safe deposit box
A safe deposit box takes neither a POD designation nor a beneficiary designation.1
Who can be named1
How many beneficiaries, and how shares are split
- All accounts
When more than one beneficiary is named, the owner specifies a percentage allocation.2
What a designation takes to be effective
What Citizens Business Bank's agreement says about beneficiaries1
- A designation and a will
A POD designation controls the account regardless of what the will says.1
Which accounts a trust can hold3
- Trust account
Checking, savings, Premium Money Market, CD and CDARS accounts retitle to a trust at a Business Financial Center on ordinary account paperwork.2
CitizensTrust Wealth Management trust and agency accounts are opened at one of the 3 California Trust Locations, under the bank's fiduciary powers rather than on deposit-account paperwork.3
- IRA
IRAs and Roth IRAs cannot be retitled to a trust.2
- Health savings account
HSAs cannot be retitled to a trust.2
Accounts handled elsewhere2
- CitizensTrust Wealth Management
CitizensTrust Wealth Management accounts, including trust and agency accounts, at the bank's Trust Locations3
Phone: 1-888-734-4222
- LPL Financial
CitizensTrust Investment Services brokerage and advisory accounts, including TOD registration and retitling1
Not in Citizens Business Bank's published guidance3
- A beneficiary form to download
- A trust account form
- A 24-hour phone line
Sources3
Sources
Data sourced from Citizens Business Bank primary sources (15 pages reviewed). How we research.
Download these Citizens Business Bank instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Citizens Business Bank primary sources. Bring it to the branch or keep it beside the phone.
Citizens Business Bank estate support
CitizensTrust Wealth Management
Phone
General Client Services
Mailing address
Website
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