How to name beneficiaries and fund a trust at Lake Trust
Covers 10 deposit, 3 retirement, 1 investment, and 3 lending accounts — beneficiaries must be updated in-branch
Member Services
Phone888-267-7200
Toll-Free888-267-7200
Mailing Address
Lake Trust Credit Union, 4605 S Old US Hwy 23, Brighton, MI 48114
WebsiteLearn more→
Member Services
Phone888-267-7200
Toll-Free888-267-7200
Mailing Address
Lake Trust Credit Union, 4605 S Old US Hwy 23, Brighton, MI 48114
Lake Trust Legacy Support
Text Support
WebsiteLearn more→
Member Services
Phone888-267-7200
Toll-Free888-267-7200
Mailing Address
Lake Trust Credit Union, 4605 S Old US Hwy 23, Brighton, MI 48114
WebsiteNotify online→
Verified Apr 2026
Preparing your Lake Trust accounts for estate transfer involves two key steps: designating beneficiaries on each account and, where appropriate, retitling accounts into a trust. Because Lake Trust is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts with Payable on Death designations or trust ownership bypass probate entirely.
Lake Trust has 17 product types, and the estate transfer rules differ across them. Some support Payable on Death (POD) designations, some can be retitled into a trust, and others will require probate if nothing is set up. Each is covered below.
Money Market CheckingAspire SavingsRegular SavingsSave to WinMM SavingsMM PlusMM PremiumCertificate of Deposit (CD)7-Month CD Plus13-Month CD Plus
1
Visit any Lake Trust branch location.
2
Bring government-issued photo ID.
3
Request to add or update POD (Payable on Death) beneficiary designation.
4
Provide beneficiary information:
- Full legal name
- Date of birth
- Social Security number
- Relationship to account owner
- Percentage allocation (must total 100%)
5
Designate primary and contingent beneficiaries.
6
Sign and submit the completed form.
7
Receive confirmation of beneficiary designation.
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- POD designation available for deposit accounts (checking, savings, money market, CDs).
- Beneficiary designation required for IRA accounts (separate from POD).
- Trusts can be named as POD beneficiaries on deposit accounts.
- Investment account beneficiary designations handled through LPL Financial, not Lake Trust directly.
- All account owners must consent to beneficiary changes on joint accounts.
Member Services
Phone888-267-7200
Toll-Free888-267-7200
Mailing Address
Lake Trust Credit Union, 4605 S Old US Hwy 23, Brighton, MI 48114
WebsiteLearn more→
Member Services
Phone888-267-7200
Toll-Free888-267-7200
Mailing Address
Lake Trust Credit Union, 4605 S Old US Hwy 23, Brighton, MI 48114
Lake Trust Legacy Support
Text Support
WebsiteLearn more→
Member Services
Phone888-267-7200
Toll-Free888-267-7200
Mailing Address
Lake Trust Credit Union, 4605 S Old US Hwy 23, Brighton, MI 48114
WebsiteNotify online→
Verified Apr 2026
Estate planning articles
Learn how to protect your Lake Trust accounts and other assets with trusts, beneficiary designations, and estate planning documents.
