How to designate beneficiaries at First Bank & Trust (South Dakota)
Beneficiaries are managed in branch or by mail
Estate planning for your First Bank & Trust (South Dakota) accounts starts with understanding how each one transfers at death. Beneficiary designations bypass probate, but the right approach depends on the account type, your tax situation, and how much control you want over distributions.
First Bank & Trust (South Dakota) has 18 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.
Beneficiary form at First Bank & Trust (South Dakota)
HSA/IRA Consumer Deposit Account Information (for health savings accounts).
Open the form →Beneficiary designation is not available for deposit accounts at First Bank & Trust (South Dakota).
Beneficiary designation is not available for investment accounts at First Bank & Trust (South Dakota).
Required Documents
- Each beneficiary's name. Last name, first name and middle initial
- Each beneficiary's Social Security number
- Each beneficiary's relationship to the owner
What First Bank & Trust (South Dakota) says about beneficiaries
Each section is First Bank & Trust (South Dakota)'s own statement, with the document it comes from numbered under Sources.
How many beneficiaries, and how shares are split
- Health savings account
The owner sets each beneficiary's share as a percentage and can name contingent beneficiaries as well as primary ones, adding pages when there are more beneficiaries than the form has lines.1
Beneficiary forms First Bank & Trust (South Dakota) issues1
- HSA/IRA Consumer Deposit Account Information
For health savings accounts. Completed by the account owner. Available to download.2, 1
Accounts handled elsewhere1
- First Bank & Trust Wealth Management, Personal Trust Services
Trusts with First Bank & Trust as trustee, including revocable living trusts3
Phone: 1-800-843-1552
Not in First Bank & Trust (South Dakota)'s published guidance7
- A beneficiary designation form, for deposit accounts
- An online way to name a beneficiary
- Terms in its agreements for a beneficiary designation
- A procedure for holding an account in a trust
- A trust account form
- Which trust documents it accepts
- How long a change takes
Sources
(4)·
Data sourced from First Bank & Trust (South Dakota) primary sources (32 pages reviewed). How we research.
Download these First Bank & Trust (South Dakota) instructions
A printable PDF with the steps, required documents, and contact details, verified against First Bank & Trust (South Dakota) primary sources. Bring it to the branch or keep it beside the phone.
First Bank & Trust (South Dakota) estate support
Wealth Management, Estate & Trust Services
Phone
Website
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