How to name beneficiaries and fund a trust at First Western Trust

A deposit account takes a Payable on Death (POD) designation.¹

An individually owned investment account takes a Transfer on Death (TOD) registration.¹

For a life insurance policy arranged through the Insurance Solutions group, the beneficiary designation is made on the issuing insurer's own form, not on a bank form.²

For an annuity arranged through the Insurance Solutions group, the beneficiary designation is made on the issuing insurer's own form, not on a bank form.²

A trust can be named as beneficiary. Naming one generally calls for a copy of the trust agreement or a Certificate of Trust.¹

The owner names primary and contingent beneficiaries and gives percentage allocations when naming more than one beneficiary.¹

Every designation runs through a relationship manager. The owner signs the updated account documentation the relationship manager prepares.¹

The Consumer Schedule of Fees lists notary service at no charge, so a designation needing notarization can be notarized at the office.³

The California office in Century City is listed as "Trust and Wealth Management Only", so deposit-account paperwork there routes to a banking office in another state.⁴

Interest checking, savings, money market, CD and Insured Cash Sweep accounts can be retitled into a revocable living trust.¹

An Insured Cash Sweep relationship retitled to a trust keeps the same single-account structure while the underlying funds stay placed across the IntraFi network.¹

An investment management account can be retitled into a revocable living trust. The retitling is coordinated through the wealth management advisor on the account.¹

Sent by the institution on request.¹

First Western Trust also serves as corporate trustee, successor trustee and custodian, so a trust can be administered by the bank instead of by an individual trustee.¹

The Consumer Schedule of Fees lists notary service at no charge for documents needing notarization.³