How to name beneficiaries and fund a trust at Hanmi
Covers 7 deposit, 2 retirement, and 1 lending accounts — beneficiaries must be updated in-branch
Customer Call Center
3660 Wilshire Boulevard, PH-A, Los Angeles, CA 90010
Customer Call Center
3660 Wilshire Boulevard, PH-A, Los Angeles, CA 90010
Customer Call Center (deceased-account and estate claims)
Hanmi Bank, 3660 Wilshire Boulevard, PH-A, Los Angeles, CA 90010
Preparing your Hanmi accounts for estate transfer involves two primary strategies: designating beneficiaries on individual accounts and, where supported, retitling accounts into a revocable living trust. Both approaches bypass probate, but they work differently depending on the account type.
The transfer rules at Hanmi vary across 10 accounts. Below is a breakdown of beneficiary options, trust funding, and which products support each method.
- Full legal name, date of birth, and Social Security number for each beneficiary
- Primary and contingent beneficiaries
- Distribution percentages if naming more than one beneficiary
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Under the Hanmi Deposit Account Agreement, a POD beneficiary cannot withdraw until (a) all persons who created the account have died and (b) the beneficiary is then living. Naming a beneficiary does not give them access while any owner is alive
- If Hanmi has any question about who owns the funds when an owner dies, the agreement lets it freeze all or part of the account pending proof satisfactory to the bank of each person's right to the funds -- so name beneficiaries precisely and keep the designation current
- A POD or Totten Trust beneficiary does not defeat the bank's setoff and security-interest rights: the agreement lets Hanmi collect a debt the decedent owed it from the account even though a surviving joint owner, POD beneficiary, or "in trust for" beneficiary has rights to it
- All account owners must consent to beneficiary designation changes
- Coordinate designations with your will or trust, and update them after marriage, divorce, birth, or a death in the family
Sources
Data sourced from Hanmi primary sources (18 pages reviewed). How we research.
Download these Hanmi instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Hanmi primary sources. Bring it to the branch or keep it beside the phone.
Customer Call Center
3660 Wilshire Boulevard, PH-A, Los Angeles, CA 90010
Customer Call Center
3660 Wilshire Boulevard, PH-A, Los Angeles, CA 90010
Customer Call Center (deceased-account and estate claims)
Hanmi Bank, 3660 Wilshire Boulevard, PH-A, Los Angeles, CA 90010
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