How to name beneficiaries and fund a trust at Hanmi
Beneficiaries are managed in branch, by phone or by mail. Trust paperwork is taken in branch or by phone
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 11 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
- Beneficiary's full legal name
- Beneficiary's date of birth
- Beneficiary's Social Security number
- Beneficiary's current address, telephone number and e-mail
- Government-issued photo ID (at a branch)
- Full trust agreement or Certification of Trust
- Government-issued photo ID for all trustees
- Trust tax identification number (EIN) if applicable
- Trust agreement or Certification of Trust
- Government-issued photo ID for all trustees
- Trust tax identification number (EIN) if applicable
- Review and remove any existing POD beneficiary designations, as the trust governs distribution
- Update any associated automatic payments, direct deposits, or linked accounts to reflect the new title
Required Documents
- Trust agreement or Certification of Trust
- Government-issued photo ID for all trustees
- Trust tax identification number (EIN) (if applicable)
- Account retitling forms. Provided at the branch
- 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
- Beneficiary's full legal name
- Beneficiary's date of birth
- Beneficiary's Social Security number
- Beneficiary's current address, telephone number and e-mail
- Government-issued photo ID (at a branch)
What Hanmi says about beneficiaries and trusts
Each section is Hanmi's own statement, with the document it comes from numbered under Sources.
How many beneficiaries, and how shares are split
- All accounts
The agreement splits a POD account equally among surviving beneficiaries "unless we have been instructed otherwise by the owner(s) in writing".1
The owner designates primary and contingent beneficiaries and specifies distribution percentages when naming more than one beneficiary.2
What Hanmi's agreement says about beneficiaries5
- Joint accounts
A POD or Totten Trust ("In trust for") account passes to the named beneficiaries who survive the last surviving owner, not on the first owner's death.1
- What the owner keeps while living
Naming a beneficiary gives the beneficiary nothing while any owner is alive.1
- Changing or revoking a designation
The Deposit Account Agreement says owners change beneficiaries "by updating our account documentation".1
- Claims against the account
A POD or Totten Trust beneficiary does not defeat the bank's set-off and security-interest rights: the agreement lets Hanmi collect a debt the decedent owed it from the account even though a surviving joint owner, Pay-On-Death beneficiary or "in trust for" beneficiary has rights to it.1
IRA and tax-qualified retirement accounts are carved out of both the set-off and the security-interest clauses.1
- Powers of attorney over a living owner's account
Hanmi publishes power of attorney forms for California, Illinois, New Jersey, Texas and Virginia on its forms page. An agent's authority under a power of attorney ends when the account holder dies.3
State requirements Hanmi statesNew York, Texas, New Jersey, California
- New York
If two or more people create a Revocable Trust Account, they own it jointly with right of survivorship, and beneficiaries cannot withdraw unless all persons creating the account have died and the beneficiary is then living.1
- Texas
The agreement prints a warning that the type of account selected may determine how property passes on death and that a will may not control the disposition of those funds.1
The agreement warns that a designated convenience signer owns the account on the owner's death only if that person is also designated a P.O.D. payee or trust account beneficiary.1
- New Jersey
Ownership of a multiple-party account cannot be changed by will, and in the absence of proof of net contribution each party owns an equal share.1
- California
If a married couple or registered domestic partners hold an account as community property, the agreement says ownership is determined by marital property law "and may be affected by a will".1
Trust account forms Hanmi issues1
- Account retitling forms
Provided at a branch.4
What Hanmi says about trust accounts1
- Automatic payments and direct deposits
Associated automatic payments, direct deposits and linked accounts are updated to reflect the new title.4
Not in Hanmi's published guidance1
- A beneficiary form to download
Sources4
- 1.Deposit Account Agreement
- 2.Hanmi Bank branch locations
- 3.Hanmi Bank forms page
- 4.Hanmi Bank trust account retitling guidance
Sources
Data sourced from Hanmi primary sources (15 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.
Hanmi estate support
Customer Call Center
Phone
Telebanking Service (24-hour automated)
Bill Pay Customer Service
Treasury Management
Lost or Stolen Debit Card (English, 24-hour)
Corporate Headquarters
Hours
Mailing address
Website
Estate requests go through general customer service.
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