Estate planning at Flagstar Bank

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.