How to name beneficiaries and fund a trust at Desert Financial
Covers 10 deposit, 3 retirement, and 1 investment accounts — beneficiaries must be updated in-branch
Desert Financial Credit Union, P.O. Box 2945, Phoenix, AZ 85062-2945
Operations Resolutions
Desert Financial Credit Union, Attn: Operations Resolutions, P.O. Box 2945, Phoenix, AZ 85062-2945
The goal with your Desert Financial accounts is to make sure every account has a transfer mechanism in place—either a POD beneficiary designation or trust ownership. Because Desert Financial is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts without either one will require probate, which means court involvement and delays for your family.
Each of Desert Financial's 14 accounts has different rules for how it transfers at death. The sections below explain the options for each.
- Full legal name, date of birth, Social Security number, and relationship
- For trusts as beneficiary: trust name, date of trust, and trust EIN
- Percentage allocation if naming multiple beneficiaries
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- POD available for deposit accounts (checking, savings, money market, certificates)
- Certain accounts are not eligible for POD: business accounts, organization accounts, IRAs, and youth accounts
- Trusts can be named as POD beneficiaries on eligible accounts
- NCUA coverage up to $250,000 per POD beneficiary
- Credit union is not obligated to notify POD beneficiaries of the designation
- Investment accounts through Raymond James have separate beneficiary designation processes
- No standalone downloadable beneficiary designation form published; designation is completed in branch or by phone using the Account Application or Replacement Agreement
Sources
Data sourced from Desert Financial primary sources (18 pages reviewed). How we research.
Download these Desert Financial instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Desert Financial primary sources. Bring it to the branch or keep it beside the phone.
Desert Financial Credit Union, P.O. Box 2945, Phoenix, AZ 85062-2945
Operations Resolutions
Desert Financial Credit Union, Attn: Operations Resolutions, P.O. Box 2945, Phoenix, AZ 85062-2945
Estate planning articles
Learn how to protect your Desert Financial 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.
Learn more
Marriage
What married couples need in place: one joint trust or two, wills, beneficiary updates, and the spousal rights your state grants you automatically.
Learn more
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 moreMore estate planning resources
Explore related tools and documents to complete your estate plan.
How Much Does Probate Cost?
Estimate attorney fees, executor fees, court costs, and timeline for probating an estate in your state. See if the estate qualifies for simplified probate procedures.
Who Inherits Without a Will?
Find out who inherits your estate and how much they get if you die without a will. Based on your state's intestate succession laws.
How Much Are Estate & Inheritance Taxes?
Calculate federal estate tax, state estate tax (12 states + DC), and inheritance tax (5 states) for an estate or trust.
What Does Estate Planning Actually Cost?
See the true cost of estate planning. Compare SimplyTrust, Trust & Will, LegalZoom, and attorneys including life events like marriage, divorce, and having children.
How Much Does a Revocable Living Trust Cost?
Compare the cost of creating a revocable living trust. See how SimplyTrust, Trust & Will, LegalZoom, and attorneys compare over 5 years including life events.
How Much Does a Will Cost?
Compare the cost of creating a will. See document costs plus probate fees your heirs will pay. Compare SimplyTrust, Trust & Will, LegalZoom, and attorneys.
