Estate planning at HSBC

HSBC Premier requires at least one of: $75,000 in combined U.S. consumer and qualifying commercial deposit and investment accounts, $5,000 minimum monthly direct deposits, an active HSBC U.S. residential mortgage loan with an original loan amount of at least $500,000, or HSBC Private Bank status. A $50 monthly maintenance fee applies if requirements are not met. Up to 4 family members at the same address may qualify for Premier benefits.

HSBC requires a paper form for beneficiary changes. Download the Change or Remove Beneficiary Kit from the HSBC website, complete it with full legal names, dates of birth, relationships, and allocation percentages, then submit by mail to the HSBC Premier Service Center (P.O. Box 22, Buffalo, NY 14240) or in person at an International Wealth Center. Beneficiary changes cannot be made online. Allow 2-3 weeks for mail processing.

Yes. Deposit accounts (checking, savings, CDs) and brokerage accounts can be retitled to a revocable living trust. IRAs cannot be retitled to a trust but can name a trust as beneficiary. Trust retitling must be initiated in-branch at an International Wealth Center or by mail; it cannot be completed online. You will need a certified copy of your trust agreement or Certificate of Trust, and government-issued ID for all trustees. Allow 2-4 weeks for processing.

Yes. IRAs cannot be retitled to a trust during the account holder's lifetime, but a trust can be named as the IRA beneficiary. To designate a trust as beneficiary, complete the Change or Remove Beneficiary Kit with the trust name, date established, and tax ID number. Submit the form by mail or in person at an International Wealth Center.