Estate planning at First Merchants
How to protect 18 First Merchants accounts — manage beneficiaries in-branch, fund a trust in-branch, and file claims through First Merchants's Private Wealth Advisors - Fiduciary Services
Customer Service
First Merchants Bank, PO Box 549, Daleville, IN 47334
Private Wealth Advisors - Fiduciary Services
Death Claims (handled through Customer Service and the banking center; no dedicated estate-claims department is published)
First Merchants Bank, PO Box 549, Daleville, IN 47334
First Merchants has 18 accounts, each with different rules for what happens when the account holder dies. Of those, 14 can name a trust as beneficiary or be retitled into a trust. The right combination of beneficiary designations and trust ownership can keep the entire portfolio out of probate.
Beneficiary designations at First Merchants can be managed in branch and by phone, typically taking 15-30 minutes in branch. Trust funding is also available, allowing families to retitle accounts into the name of a revocable living trust.
First Merchants has documented procedures for both preparing accounts during your lifetime and handling claims when an account holder passes away.
Preparing your estate
Beneficiaries and trust funding
How to update beneficiaries in-branch, fund a trust in-branch, and review 18 account types at First Merchants.
View details →When someone dies
Death claim process
Contact First Merchants's Private Wealth Advisors - Fiduciary Services to file a claim. 9-step process, 7 required documents, and contact information for survivors.
View details →Reach First Merchants's Private Wealth Advisors - Fiduciary Services at 1-866-238-0082 for help with any of these procedures.
Because First Merchants serves a limited number of states, procedures for trust funding and beneficiary changes may differ depending on your location. Verify availability before starting.
Frequently asked questions
Yes. Checking, savings, money market, and CD accounts at First Merchants can be retitled to a revocable living trust. Visit a banking center with your Certification of Trust (or full trust agreement), government-issued ID for all trustees, and the trust tax identification number or the grantor's Social Security number -- a revocable trust does not need its own EIN while the grantor is alive, because the income is taxed to the grantor. Retitling typically takes 1-2 weeks. IRA accounts cannot be retitled to a trust, but a trust can be named as the IRA beneficiary. Investment accounts held through Private Wealth Advisors are retitled through that team (1-866-238-0082) rather than at the banking center.
Sources
Data sourced from First Merchants primary sources (28 pages reviewed). How we research.
Customer Service
First Merchants Bank, PO Box 549, Daleville, IN 47334
Private Wealth Advisors - Fiduciary Services
Death Claims (handled through Customer Service and the banking center; no dedicated estate-claims department is published)
First Merchants Bank, PO Box 549, Daleville, IN 47334
Estate planning articles
Learn how to protect your First Merchants accounts and other assets with trusts, beneficiary designations, and estate planning documents.
