How to name beneficiaries and fund a trust at Logix
Covers 14 deposit, 3 retirement, 2 investment, and 1 insurance accounts — beneficiaries must be updated in-branch
Member Service Center
Logix Federal Credit Union, P.O. Box 4130, Castaic, CA 91310-4130
Logix Financial Services (Estate Planning & Trust Services, offered through LPL Financial)
Logix Federal Credit Union, P.O. Box 4130, Castaic, CA 91310-4130
Member Service Center (Death Claims)
Logix Federal Credit Union, P.O. Box 4130, Castaic, CA 91310-4130 (overnight: 27918 Franklin Parkway, Valencia, CA 91355)
There are two ways to keep your Logix accounts out of probate: adding Payable on Death designations and retitling accounts into a trust. Because Logix is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Both methods ensure your accounts transfer directly to the people you choose, without court involvement.
Logix has 20 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.
- Provide beneficiary information: full name and date of birth (SSN not required)
- Specify number of beneficiaries (unlimited allowed; equal shares by default)
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Adding a POD beneficiary re-titles the account: under the Membership and Accounts Agreement, an Individual Account with one or more designated beneficiaries is automatically classified as a "Totten Trust Account," and the owner is shown as "trustee" on statements
- A Totten Trust Account cannot be opened without a beneficiary named on the application, and a named beneficiary has no rights in the account during the owner's lifetime
- On the death of all Account Holders named as trustee, Logix distributes the funds EQUALLY among the named beneficiaries — the agreement provides no mechanism for unequal percentage shares
- Unlimited number of beneficiaries allowed
- Dates of birth required; Social Security numbers not required
- Beneficiary does not need to be present
- Beneficiary does not need to be a Logix member
- Online beneficiary designation is not currently available; Logix publishes no downloadable POD beneficiary form (the "Important Forms" list at https://www.logixbanking.com/banking/account-services/maintenance carries wire, dispute, and stop-payment forms only)
- Investment account beneficiaries must be set up through Logix Financial Services at 800-553-3707
Sources
Data sourced from Logix primary sources (21 pages reviewed). How we research.
Download these Logix instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Logix primary sources. Bring it to the branch or keep it beside the phone.
Member Service Center
Logix Federal Credit Union, P.O. Box 4130, Castaic, CA 91310-4130
Logix Financial Services (Estate Planning & Trust Services, offered through LPL Financial)
Logix Federal Credit Union, P.O. Box 4130, Castaic, CA 91310-4130
Member Service Center (Death Claims)
Logix Federal Credit Union, P.O. Box 4130, Castaic, CA 91310-4130 (overnight: 27918 Franklin Parkway, Valencia, CA 91355)
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