Estate planning options at First Mid Bank & Trust

A beneficiary of a payable-on-death or revocable trust account cannot withdraw anything until every owner has died, and then only if the beneficiary is still living.¹

Beneficiaries named on a Two Rivers HSA were not carried over when the HSA moved to Lively in 2026; the owner names them again in the Lively account.²

When two or more named beneficiaries outlive the owners, they share the account equally, and none of them inherits another's share by survivorship.¹

The owner keeps the right to change the beneficiaries, change the type of account, or withdraw some or all of the money at any time.¹

First Mid may decline some forms of ownership or beneficiary designation, and it makes no promise about what a designation does beyond deciding whom it pays.¹

Joint owners who open a payable-on-death or revocable trust account hold it with survivorship, so the beneficiaries take only after the last owner dies.¹

An agent can be named on the signature card or by a power of attorney. The authority ends at the owner's death, though the bank may keep honoring the agent until it knows and has had time to act.¹

The account is governed by federal law and the law of the state where the branch holding it is located; the terms that differ by state apply by the branch's state.¹

At a Wisconsin branch, when one spouse on a marital account with payable-on-death beneficiaries dies, half the money belongs to the surviving spouse and half to the beneficiaries the deceased spouse named.¹

At a Missouri branch, an account can be registered with LDPS after a beneficiary's name, so that the beneficiary's descendants take that beneficiary's place if the beneficiary dies first.¹

An account may be opened and kept by the person or persons named as trustee in a written trust agreement.¹

Opening an account for a trust does not make First Mid a trustee, and the bank takes on no duty to watch over or enforce the trust's terms.¹

Trusts with First Mid as trustee or successor trustee, including revocable living trusts^{3, 4}