How to name beneficiaries and fund a trust at MIDFLORIDA
Covers 16 deposit, 3 retirement, and 2 investment accounts — beneficiaries must be updated in-branch
Help Desk
MIDFLORIDA Credit Union, P.O. Box 8008, Lakeland, FL 33802-8008
Southeast Trust Company, LLC (trust administration and estate settlement; wholly owned by MIDFLORIDA)
Southeast Trust Company, 1603 SW 19th Ave, Ocala, FL 34471
Help Desk (no separate bereavement or estate-claims department; deposit-account death claims are handled by the Help Desk and in branch)
MIDFLORIDA Credit Union, P.O. Box 8008, Lakeland, FL 33802-8008
There are two ways to keep your MIDFLORIDA accounts out of probate: adding Payable on Death designations and retitling accounts into a trust. Because MIDFLORIDA 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.
MIDFLORIDA has 21 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.
- Full legal name, date of birth, Social Security number, and relationship
- Contact information for the beneficiary
- Sums payable to more than one surviving POD beneficiary are "distributed equally to each beneficiary" — the agreement does not provide for uneven percentage splits between POD beneficiaries
- A POD designation "shall not apply to Individual Retirement Accounts (IRAs)," which carry their own separate beneficiary designation
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- POD designation is available on deposit accounts (checking, savings, money market, certificates); it is not offered on Student Checking or Youth Savings
- Multiple surviving POD beneficiaries are paid in EQUAL shares under the Consumer Account Terms and Conditions — uneven percentage splits between POD beneficiaries are not part of the published POD terms
- A POD designation does not apply to IRAs. IRAs are governed by a separate account agreement and their own beneficiary designation
- A POD account is payable to the owners during their lifetimes and to the named living beneficiary only when the LAST account owner dies
- MIDFLORIDA is not obligated to notify a beneficiary that an account or a beneficiary interest exists
- A beneficiary change requires written notice to the credit union on a form it approves
- MIDFLORIDA does not publish a beneficiary or trust form for download; forms are issued in branch or by phone
Sources
Data sourced from MIDFLORIDA primary sources (18 pages reviewed). How we research.
Download these MIDFLORIDA instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against MIDFLORIDA primary sources. Bring it to the branch or keep it beside the phone.
Help Desk
MIDFLORIDA Credit Union, P.O. Box 8008, Lakeland, FL 33802-8008
Southeast Trust Company, LLC (trust administration and estate settlement; wholly owned by MIDFLORIDA)
Southeast Trust Company, 1603 SW 19th Ave, Ocala, FL 34471
Help Desk (no separate bereavement or estate-claims department; deposit-account death claims are handled by the Help Desk and in branch)
MIDFLORIDA Credit Union, P.O. Box 8008, Lakeland, FL 33802-8008
Estate planning articles
Learn how to protect your MIDFLORIDA accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
New Baby or Adoption
Your family is growing. Your protection should too. Guardian nominations, trusts for minors, beneficiary updates, and the documents new parents need in place.
Learn more
Marriage
What married couples need in place: one joint trust or two, wills, beneficiary updates, and the spousal rights your state grants you automatically.
Learn more
New Home
How to put your house in a revocable trust: the deed you record, what it does to your mortgage and property taxes, and when a TOD deed is simpler.
Learn more
Retirement
Retirement changes your financial picture. Healthcare directives, beneficiary reviews, long-term care planning, and protecting what you've built.
Learn moreMore estate planning resources
Explore related tools and documents to complete your estate plan.
How Much Does Probate Cost?
Estimate attorney fees, executor fees, court costs, and timeline for probating an estate in your state. See if the estate qualifies for simplified probate procedures.
Who Inherits Without a Will?
Find out who inherits your estate and how much they get if you die without a will. Based on your state's intestate succession laws.
How Much Are Estate & Inheritance Taxes?
Calculate federal estate tax, state estate tax (12 states + DC), and inheritance tax (5 states) for an estate or trust.
What Does Estate Planning Actually Cost?
See the true cost of estate planning. Compare SimplyTrust, Trust & Will, LegalZoom, and attorneys including life events like marriage, divorce, and having children.
How Much Does a Revocable Living Trust Cost?
Compare the cost of creating a revocable living trust. See how SimplyTrust, Trust & Will, LegalZoom, and attorneys compare over 5 years including life events.
How Much Does a Will Cost?
Compare the cost of creating a will. See document costs plus probate fees your heirs will pay. Compare SimplyTrust, Trust & Will, LegalZoom, and attorneys.
