CrossFirst Bank
Subsidiary of CrossFirst Bankshares, Inc. (acquired by First Busey Corporation)
busey.comHow to name beneficiaries and fund a trust at CrossFirst Bank
Beneficiaries are managed in branch, by phone or by mail. Trust paperwork is taken in branch, by phone or by mail
CrossFirst Bank merged into BuseyMerged, effective June 2025
CrossFirst Bankshares, Inc. was acquired by First Busey Corporation effective March 1, 2025. CrossFirst Bank operated as a separate banking subsidiary until it was merged with and into Busey Bank, effective June 21, 2025 per the FDIC merger record (change code 223, CERT 58648 into CERT 16450). Former CrossFirst banking centers now operate under the Busey Bank brand, and crossfirstbank.com issues a 301 redirect to busey.com. Contact Busey Customer Care at 800.672.8739 for any former CrossFirst account; estate and death-claim procedures are Busey Bank's.
The key to protecting your CrossFirst Bank accounts is making sure each one has a transfer mechanism in place—either a beneficiary designation or trust ownership. Without one, the account goes through probate, adding time, cost, and court involvement for your family.
CrossFirst Bank has 14 accounts with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
Beneficiary form at CrossFirst Bank
Account signature card, POD beneficiary designation form (for payable-on-death accounts) and IRA-specific beneficiary form (for IRAs).
- Request to add or update POD (Payable on Death) beneficiary designations on your deposit accounts
- Provide beneficiary name, date of birth, Social Security number, and relationship to the account holder
- Request assistance with adding or updating POD beneficiary designations
- Provide account information and beneficiary details
- Fill in beneficiary details including name, date of birth, Social Security number, and allocation percentages
- All account owners must sign the form
Required Documents
- Government-issued photo ID (at a branch)
- Beneficiary's name
- Beneficiary's date of birth
- Beneficiary's Social Security number
- Beneficiary's relationship to the account holder
- Allocation percentages (on the mailed beneficiary form)
- Full legal trust name, date of trust and trustee information (when naming a trust)
- POD beneficiary designation form, completed and signed by all owners (by mail)
- Bring the Certification of Trust or full trust agreement
- Provide trustee identification (government-issued photo ID for all trustees)
- Provide the trust tax identification number (EIN) or grantor SSN for revocable trusts
- Request information about opening a trust account or retitling an existing account to a trust
- A representative will schedule a branch appointment or provide instructions for mailing required documents
- Complete the application with trust name, date, tax identification number, and trustee information
- Include a copy of the Certification of Trust or required trust agreement pages
- Include copies of government-issued photo ID for all trustees
Required Documents
- Certification of Trust. Also called a Trust Abstract or Affidavit of Trust. The full trust agreement with the required pages is also accepted
- Pages identifying the trust name, date, grantors and trustees (if there is no Certification of Trust)
- Provisions on trustee powers and successor trustee designation
- Signature and notary pages from the trust agreement
- Any amendments to the trust agreement
- Government-issued photo ID (for all trustees)
- Social Security number or EIN for the trust
- Death certificate (if a grantor or trustee has died (a successor trustee))
- Request to add or update POD (Payable on Death) beneficiary designations on your deposit accounts
- Provide beneficiary name, date of birth, Social Security number, and relationship to the account holder
- Request assistance with adding or updating POD beneficiary designations
- Provide account information and beneficiary details
- Fill in beneficiary details including name, date of birth, Social Security number, and allocation percentages
- All account owners must sign the form
Required Documents
- Government-issued photo ID (at a branch)
- Beneficiary's name
- Beneficiary's date of birth
- Beneficiary's Social Security number
- Beneficiary's relationship to the account holder
- Allocation percentages (on the mailed beneficiary form)
- Full legal trust name, date of trust and trustee information (when naming a trust)
- POD beneficiary designation form, completed and signed by all owners (by mail)
What CrossFirst Bank says about beneficiaries and trusts
Each section is CrossFirst Bank's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary5
- Payable-on-death account
Under Busey's Terms & Conditions, at the death of the owner of a single-party account with a pay-on-death designation, ownership passes to the designated beneficiaries and is not part of the owner's estate.1
Busey's Terms & Conditions reserve the right to refuse some forms of ownership and beneficiary designation on any or all of its accounts, and disclaim any representation as to the appropriateness or effect of the designation chosen.1
- Account in one name
Under Busey's Terms & Conditions, at the death of a party to a single-party account, ownership passes as part of the party's estate.1
- Joint account with survivorship
Under Busey's Terms & Conditions, at the death of a party to a multiple-party account with right of survivorship, ownership passes to the surviving party or parties.1
- Joint account without survivorship
Under Busey's Terms & Conditions, on a multiple-party account without right of survivorship (tenants in common), the deceased party's share passes as part of that party's estate.1
- IRA
IRA beneficiary changes require separate IRA-specific forms; the deposit POD card does not govern an IRA.2
Who can be named1
- A trust
A trust can be named as beneficiary, with its full legal name, the date of the trust and the trustee information.2
What a designation takes to be effective
- All accounts
All account owners must agree to and sign a beneficiary designation or a change to one.2
Beneficiary forms CrossFirst Bank issues3
- Account signature card
Provided at a branch.2
- POD beneficiary designation form
For payable-on-death accounts. Completed by all account owners. Sent by the institution on request.2
- IRA-specific beneficiary form
For IRAs. Provided at a branch.2
What CrossFirst Bank's agreement says about beneficiaries3
- Joint accounts
Under Busey's Terms & Conditions, on a multiple-party account with right of survivorship and a pay-on-death designation, ownership passes to the beneficiaries at the death of the last surviving party.1
- Which state governs the account
Busey's Terms & Conditions state the account is governed by Illinois law to the extent not governed by federal law, whichever state the banking center sits in.1
- Accounts from a merged institution
For a former CrossFirst account in Kansas, Texas, Oklahoma, Arizona, Colorado or New Mexico, the banker says which state's beneficiary designation section of Busey's Terms & Conditions governs.1
State requirements CrossFirst Bank statesIllinois, Florida, Missouri, Indiana
- Illinois
Busey's Terms & Conditions carry a separate Illinois ownership and beneficiary designation section, including substitution of lineal descendants per stirpes (LDPS).1
- Florida
Busey's Terms & Conditions carry a separate Florida ownership and beneficiary designation section.1
- Missouri
Busey's Terms & Conditions carry a separate Missouri ownership and beneficiary designation section.1
- Indiana
Busey's Terms & Conditions carry a separate Indiana ownership and beneficiary designation section, under Indiana's transfer on death property law.1
Which accounts a trust can hold2
- Trust account
Both revocable and irrevocable trusts are accepted.2
Busey's Terms & Conditions allow an account to be opened and maintained by a person or persons named as a trustee under a written trust agreement.1
- IRA
IRA accounts cannot be retitled to a trust.2
Trust account forms CrossFirst Bank issues2
- Trust account application and signature card
Provided at a branch.2
- Trust account application forms
Sent by the institution on request.2
What CrossFirst Bank says about trust accounts2
- Whether a new account is opened
Existing personal accounts can typically be retitled to a revocable living trust if the same Social Security number is retained.2
- Review of the trust document
Busey's Terms & Conditions say that by merely opening a trust account the bank is not acting as a trustee and undertakes no obligation to monitor or enforce the terms of the trust.1
Accounts handled elsewhere1
- Busey Wealth Management
Trustee, co-trustee, successor trustee, corporate executor and estate administration services3
Not in CrossFirst Bank's published guidance1
- A beneficiary form to download
Sources3
- 1.Terms & Conditions
- 2.Busey Customer Care and banking centers
- 3.Trust Services & Estate Advisory
Sources
Data sourced from CrossFirst Bank primary sources (15 pages reviewed). How we research.
Download these CrossFirst Bank instructions
A printable PDF with the steps, required documents, and contact details, verified against CrossFirst Bank primary sources. Bring it to the branch or keep it beside the phone.
CrossFirst Bank estate support
Trust Services & Estate Advisory (Busey Wealth Management)
Customer Care (for Wealth Management routing)
Website
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