Estate planning at First Citizens

Yes. First Citizens can serve as corporate executor or trustee. As a fiduciary, they act in the best interest of the estate while following the terms of the trust or governing document. Their estate settlement experts handle filing court documents, overseeing collection and distribution of assets, and coordinating preparation of estate, fiduciary, and personal income tax returns.

Under the SECURE Act, most non-spouse beneficiaries inheriting an IRA must withdraw all funds within 10 years. Spousal beneficiaries can take over the IRA as their own or roll it into an existing IRA. Exceptions to the 10-year rule include minor children of the account owner (until age of majority), beneficiaries no more than 10 years younger than the decedent, and individuals with disabilities or chronic illness.

First Citizens Delaware Trust Company provides Delaware trust services that take advantage of Delaware's favorable trust laws, including the ability to accumulate wealth across generations, privacy protection, and no Delaware state income tax on trust income (including capital gains) for nonresidents. The team provides personalized guidance on trust flexibility, privacy, and tax efficiency.

No. First Citizens does not currently support online POD or IRA beneficiary designations. Beneficiary designations must be completed in a branch, by phone (with the form mailed for your signature), or by mail. Call the Customer Care Center at 1-888-323-4732 (Monday-Friday 8am-9pm ET; Saturday-Sunday 8am-8pm ET) to request the appropriate form. For wealth clients, Trust & Fiduciary Services can be reached at 1-855-329-3258.