Estate planning options at First National Bank (Maine)
The key to protecting your First National Bank (Maine) accounts is making sure each one has a transfer mechanism in place—either a beneficiary designation. Without one, the account goes through probate, adding time, cost, and court involvement for your family.
Each of First National Bank (Maine)'s 16 accounts has different rules for how it transfers at death. The sections below explain the options for each.
No beneficiary form at First National Bank (Maine)
What First National Bank (Maine) says about beneficiaries
Each section is First National Bank (Maine)'s own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary1
- Payable-on-death account
Pay-on-death beneficiaries take a single-owner account when the owner dies, and a multiple-owner account only after the last surviving owner has died. Without them the account goes to the owner's estate.1
What First National Bank (Maine)'s agreement says about beneficiaries2
- Joint accounts
On an account with several owners, the survivors take the account when one owner dies, and the pay-on-death beneficiaries wait until the last of them has died.1
- Powers of attorney over a living owner's account
A single-owner account may be allowed to have agents who sign for the owner, without making them owners.1
Not in First National Bank (Maine)'s published guidance10
- What the owner provides to name a beneficiary
- A beneficiary designation form
- An online way to name a beneficiary
- Who may be named as beneficiary
- How shares are split among beneficiaries
- What a designation takes to be effective
- A procedure for holding an account in a trust
- A trust account form
- Which trust documents it accepts
- How long a change takes
Sources1
Sources
(3)·
Data sourced from First National Bank (Maine) primary sources (28 pages reviewed). How we research.
Download these First National Bank (Maine) instructions
A printable PDF with the steps, required documents, and contact details, verified against First National Bank (Maine) primary sources. Bring it to the branch or keep it beside the phone.
First National Bank (Maine) estate support
First Phone Banking
Phone
First Phone 24 (automated)
Damariscotta branch (main office)
Lost or stolen debit card (after hours, option 3)
Hours
Office
Mailing address
Website
Estate requests go through general customer service.
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