How to name beneficiaries and fund a trust at Northern Trust
Covers 7 deposit, 4 retirement, 5 investment, and 2 lending accounts — beneficiaries must be updated in-branch
Client Services (banking, investments, online services)
The Northern Trust Company, 50 South La Salle Street, Chicago, IL 60603
Wealth Management — Trust and Estate Services (Estate Settlement Services)
The Northern Trust Company, 50 South La Salle Street, Chicago, IL 60603
Estate Settlement Services (Northern Trust accounts) / Northern Funds Center (mutual fund accounts)
Northern Trust bank, brokerage, and wealth-management accounts: The Northern Trust Company, 50 South La Salle Street, Chicago, IL 60603. Northern Funds mutual-fund accounts: Northern Funds, P.O. Box 75986, Chicago, IL 60675-5986 (overnight: Northern Funds, 333 South Wabash Avenue, Dept. W-38, Chicago, IL 60604; fax 312-557-0411). Mortgage servicing error notices and requests for information: The Northern Trust Company, P.O. Box 92992, Chicago, IL 60675.
There are two ways to keep your Northern Trust 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.
With 18 product types, Northern Trust offers a range of transfer options. Some accounts support Payable on Death (POD) designations, others can be retitled into a trust, and some require probate if no beneficiary is designated. The sections below break down each step.
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Every registered owner of the account must sign the designation.
- A Medallion Signature Guarantee is required for TOD registration on an existing Northern Funds account (and for a range of other Northern Funds changes). It is obtained from a Medallion-program institution, not from a notary.
- Northern Funds TOD registration is available only for individual accounts and joint tenants with rights of survivorship — not for a trust, corporation, or other non-natural owner, and not for tenants in common.
- TOD registration does not apply to an IRA. IRAs use the separate IRA Beneficiary Designation form.
- A TOD or POD designation can be changed or revoked at any time during the owner's lifetime.
- A named beneficiary overrides the will for that account.
Sources
Data sourced from Northern Trust primary sources (14 pages reviewed). How we research.
Download these Northern Trust instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Northern Trust primary sources. Bring it to the branch or keep it beside the phone.
Client Services (banking, investments, online services)
The Northern Trust Company, 50 South La Salle Street, Chicago, IL 60603
Wealth Management — Trust and Estate Services (Estate Settlement Services)
The Northern Trust Company, 50 South La Salle Street, Chicago, IL 60603
Estate Settlement Services (Northern Trust accounts) / Northern Funds Center (mutual fund accounts)
Northern Trust bank, brokerage, and wealth-management accounts: The Northern Trust Company, 50 South La Salle Street, Chicago, IL 60603. Northern Funds mutual-fund accounts: Northern Funds, P.O. Box 75986, Chicago, IL 60675-5986 (overnight: Northern Funds, 333 South Wabash Avenue, Dept. W-38, Chicago, IL 60604; fax 312-557-0411). Mortgage servicing error notices and requests for information: The Northern Trust Company, P.O. Box 92992, Chicago, IL 60675.
Estate planning articles
Learn how to protect your Northern Trust accounts and other assets with trusts, beneficiary designations, and estate planning documents.
