How to name beneficiaries and fund a trust at First United Bank
Beneficiaries are managed in branch. Trust paperwork is taken in branch
The key to protecting your First United Bank accounts is making sure each one has a transfer mechanism in place—either a beneficiary designation or trust ownership. Without one, the account goes through probate, adding time, cost, and court involvement for your family.
First United Bank has 7 accounts with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
No beneficiary form at First United Bank
Beneficiaries are named in branch.
Required Documents
- Government-issued photo ID (at a branch)
- Each beneficiary's full legal name
- The percentage for each beneficiary (if naming more than one)
- Trust agreement or Certification of Trust
- Trust tax identification number
- Identification for each trustee who will transact on the account
Required Documents
- Trust agreement or Certification of Trust
- Government-issued photo ID (for each trustee)
- Trust tax identification number
What First United Bank says about beneficiaries and trusts
Each section is First United Bank's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary1
- Payable-on-death account
A POD designation can be placed on a checking, savings, money market or CD account. The SmartStart Kids Club youth savings account is not a POD account type.1
How many beneficiaries, and how shares are split
- All accounts
When more than one beneficiary is named, the owner gives the percentage for each.1
Which accounts a trust can hold1
- Trust account
Checking, savings, money market and CD accounts are retitled to a revocable living trust at a branch.1
Secure Checking's IDProtect, cell phone protection and health discount benefits are not available to trusts, so retitling that account ends them. Basic Checking, Prestige Checking, Savings, Money Market and CD accounts carry no such exclusion.2
Accounts handled elsewhere1
- LPL Financial
Securities and advisory services for First United Investment Services' investment and estate-planning services3
Not in First United Bank's published guidance7
- A beneficiary designation form
- An online way to name a beneficiary
- A beneficiary page
- A trust-titling checklist
- A deposit account agreement
- An online or mail path for trust retitling
- Terms in its agreements for a trust account
Sources3
Sources
Data sourced from First United Bank primary sources (14 pages reviewed). How we research.
Download these First United Bank instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against First United Bank primary sources. Bring it to the branch or keep it beside the phone.
First United Bank estate support
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Estate planning articles
Learn how to protect your First United Bank accounts and other assets with trusts, beneficiary designations, and estate planning documents.
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