Estate planning at Flagstar Bank
How to protect 17 Flagstar Bank accounts — manage beneficiaries in-branch, fund a trust in-branch, and file death claims
Flagstar Bank
Subsidiary of Self (publicly traded as FLG, formerly Flagstar Financial, Inc.)
flagstar.com→
Customer Service
Flagstar Bank, 8950 Cypress Waters Blvd., Coppell, TX 75019
Customer Service
Flagstar Bank, 8950 Cypress Waters Blvd., Coppell, TX 75019
Death Claims / Account Services
Flagstar Bank, Attn: Account Services, 8950 Cypress Waters Blvd., Coppell, TX 75019
How your Flagstar Bank accounts transfer at death depends on how each one is titled and whether a beneficiary is on file. Of those, 14 can name a trust as beneficiary or be retitled into a trust. Getting these details right keeps assets out of probate and ensures they reach the intended recipients.
Managing beneficiaries at Flagstar Bank is straightforward—changes can be made in branch, by mail, and by phone, typically taking 15-30 minutes in branch; 1-2 weeks by mail. Trust funding is also available, allowing families to retitle accounts into the name of a revocable living trust.
There are two sides to estate planning at Flagstar Bank: setting things up while you're alive, and the process survivors follow after a death.
Preparing your estate
Beneficiaries and trust funding
How to update beneficiaries in-branch, fund a trust in-branch, and review 17 account types at Flagstar Bank.
View details →When someone dies
Death claim process
7-step process, 7 required documents, and contact information for survivors.
View details →Flagstar Bank is not available nationwide. Estate planning procedures may vary by state, so confirm that your location is served before making account changes.
Frequently asked questions
Flagstar Private Bank offers wealth management services including family advisory, trust and estate planning, wealth transfer strategies, philanthropic giving guidance, and family governance advisory through Flagstar Advisors. Investment advisory services are provided through registered financial consultants who are representatives of Infinex Investments, Inc. Contact Flagstar Private Bank Client Services at 1-866-744-5463.
Yes. Flagstar checking, savings, money market, and CD accounts can be retitled to a revocable living trust by visiting a branch with the trust document (or Certification of Trust) and government-issued ID for all trustees. A new signature card and W-9 form will be completed. IRA accounts cannot be retitled to a trust, but a trust can be named as beneficiary.
Flagstar Bank operates approximately 340 branches across nine states: Arizona, California, Florida, Indiana, Michigan, New Jersey, New York, Ohio, and Wisconsin. The bank has its strongest presence in the greater New York/New Jersey metropolitan area and in the upper Midwest. Flagstar also operates a nationwide mortgage lending business and online banking through MyBankingDirect.com.
Yes. Flagstar Performance Savings offers a competitive rate with a $1 minimum opening deposit. The $15 monthly fee is waived with a $10,000 average daily collected balance or a Flagstar personal checking relationship. Flagstar Savings Plus also offers tiered high-interest rates with a $500 minimum opening deposit. MyBankingDirect.com, Flagstar's digital-only platform, also offers high-yield savings.
Both IRA CDs and regular CDs offer fixed rates and FDIC insurance up to $250,000. Regular CDs can be retitled to a trust and support POD beneficiary designations. IRA CDs (Traditional or Roth) cannot be retitled to a trust but allow a trust to be named as beneficiary using a separate IRA beneficiary designation form. IRA CDs require a $500 minimum opening deposit with a $10 million maximum and carry a $5 annual fee covering all accounts under the retirement plan.
Sources
Data sourced from Flagstar Bank primary sources (35 pages reviewed). How we research.
Flagstar Bank
Subsidiary of Self (publicly traded as FLG, formerly Flagstar Financial, Inc.)
flagstar.com→Customer Service
Flagstar Bank, 8950 Cypress Waters Blvd., Coppell, TX 75019
Customer Service
Flagstar Bank, 8950 Cypress Waters Blvd., Coppell, TX 75019
Death Claims / Account Services
Flagstar Bank, Attn: Account Services, 8950 Cypress Waters Blvd., Coppell, TX 75019
Estate planning articles
Learn how to protect your Flagstar Bank accounts and other assets with trusts, beneficiary designations, and estate planning documents.
