How to name beneficiaries and fund a trust at Delta Community CU
Covers 7 deposit, and 4 retirement accounts — beneficiaries must be updated in-branch
Delta Community Credit Union, 1030 Delta Blvd, Atlanta, GA 30354
Delta Community Retirement & Investment Services (DCRIS)
Account Transition Department
Delta Community Credit Union, Attn: Account Transition Services, P.O. Box 20541, Atlanta, GA 30320-2541
Preparing your Delta Community CU accounts for estate transfer involves two key steps: designating beneficiaries on each account and, where appropriate, retitling accounts into a trust. Because Delta Community CU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts with Payable on Death designations or trust ownership bypass probate entirely.
Delta Community CU has 11 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 will require probate if nothing is set up. Each is covered below.
- Designation of Savings, Checking, and/or CD Beneficiary form (for deposit accounts)
- IRA Change of Beneficiary form (for IRAs)
- Full legal name, Social Security number, date of birth, and desired percentage
- For a trust beneficiary: the trust name including the date established and the trust Tax ID Number
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- The beneficiary cannot be a joint owner of the same account
- If more than one beneficiary is named on a deposit account, all surviving beneficiaries receive equal shares
- IRA beneficiary designations supersede instructions in a will or trust
- Trusts may be named as POD beneficiary; trust name must include the date the trust was established
- Non-person entities (trusts, charities) require a Tax ID Number
- Neglecting to name an IRA beneficiary may result in assets passing through probate and mandatory distribution within five years
- Separate forms are used for deposit accounts versus IRA accounts
- POD designations on business accounts are only allowed on Sole Proprietorships; not available for Partnerships, LLCs, or Corporations
- HSA and Coverdell ESA accounts have their own separate beneficiary designation forms available at deltacommunitycu.com/home/forms.html
Sources
Data sourced from Delta Community CU primary sources (21 pages reviewed). How we research.
Download these Delta Community CU instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Delta Community CU primary sources. Bring it to the branch or keep it beside the phone.
Delta Community Credit Union, 1030 Delta Blvd, Atlanta, GA 30354
Delta Community Retirement & Investment Services (DCRIS)
Account Transition Department
Delta Community Credit Union, Attn: Account Transition Services, P.O. Box 20541, Atlanta, GA 30320-2541
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