How to name beneficiaries and fund a trust at Merchants Bank of Indiana
Covers 5 deposit, and 3 lending accounts — beneficiaries must be updated in-branch
Merchants Bank Contact Center
Merchants Bank of Indiana, 410 Monon Blvd, Carmel, IN 46032
Contact Center (no dedicated estate department; beneficiary and trust requests are handled here or at a banking center)
Merchants Bank of Indiana, 410 Monon Blvd, Carmel, IN 46032
Contact Center (death notifications and account claims; no bereavement line and no claims portal)
Merchants Bank of Indiana, 410 Monon Blvd, Carmel, IN 46032
There are two ways to keep your Merchants Bank of Indiana accounts out of probate: adding beneficiary designations and retitling eligible accounts into a revocable living trust. Which approach works best depends on the account type and your overall estate plan.
Merchants Bank of Indiana has 8 accounts with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
- Full legal name
- Date of birth
- Social Security number, if you have it
- Address
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- No online or mailed beneficiary designation: Merchants records POD designations on the account agreement, in person or through the contact center
- The signed designation must be received by the bank during the owner's lifetime (Ind. Code 32-17-11-19(c))
- Indiana implies no right of survivorship among multiple POD beneficiaries unless the account terms say so (Ind. Code 32-17-11-18(b)) — say so expressly when you name more than one
- A right of survivorship arising from the form of the account or from a POD designation cannot be changed by will (Ind. Code 32-17-11-18(d)) — updating your will does not update the account
- A POD beneficiary overrides the will for that account
- HSA beneficiaries are designated on the HSA custodial agreement, not on a deposit-account POD form
Sources
Data sourced from Merchants Bank of Indiana primary sources (18 pages reviewed). How we research.
Download these Merchants Bank of Indiana instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Merchants Bank of Indiana primary sources. Bring it to the branch or keep it beside the phone.
Merchants Bank Contact Center
Merchants Bank of Indiana, 410 Monon Blvd, Carmel, IN 46032
Contact Center (no dedicated estate department; beneficiary and trust requests are handled here or at a banking center)
Merchants Bank of Indiana, 410 Monon Blvd, Carmel, IN 46032
Contact Center (death notifications and account claims; no bereavement line and no claims portal)
Merchants Bank of Indiana, 410 Monon Blvd, Carmel, IN 46032
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