How to name beneficiaries and fund a trust at Coastal Community Bank

Deposit accounts take a POD (payable on death) designation, requested from the bank.¹

IRA beneficiaries are named on the IRA Beneficiary Designation form, which has primary and contingent beneficiary sections.¹

A trust can be named as a beneficiary; the designation may require a copy of the Certification of Trust.¹

The beneficiary designation form asks for allocation percentages when there are multiple beneficiaries.²

In Washington, an IRA beneficiary change by a married account holder may require spousal consent.¹

For IRAs. Completed by the account holder. Sent by the institution on request.¹

Completed by the account holder. Sent by the institution on request.²

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Coastal Community Bank accepts both revocable and irrevocable trusts for deposit accounts.^{1, 2}

IRA accounts cannot be retitled to a trust.^{1, 2}

Sent by the institution on request.²

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An existing deposit account can be retitled to a trust without closing and reopening it, provided the same SSN or EIN is used.^{1, 2}