How to name beneficiaries and fund a trust at Old National
Covers 11 deposit, 2 retirement, 1 investment, and 2 lending accounts — beneficiaries must be updated in-branch
Old National Client Care
General correspondence: Old National Bancorp, One Main Street, PO Box 718, Evansville, IN 47705-0718. Notices of error and requests for information about an Old National LOAN (only): Old National Bank, Attn: Client Success, P.O. Box 143, Evansville, IN 47701.
Old National Client Care
General correspondence: Old National Bancorp, One Main Street, PO Box 718, Evansville, IN 47705-0718. Notices of error and requests for information about an Old National LOAN (only): Old National Bank, Attn: Client Success, P.O. Box 143, Evansville, IN 47701.
Old National Client Care (deposit accounts; there is no separate published estate-claims department — estate documents are presented at a banking center)
There are two ways to keep your Old National 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.
Old National has 16 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.
- Each beneficiary's full legal name and identifying details
- For a trust beneficiary: the trust name, date established, and tax ID
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Deposit Account Agreement §3.7: if two or more owners create a POD account, they own it jointly WITH right of survivorship unless they specify otherwise — the POD beneficiary takes only after the last surviving owner dies
- Deposit Account Agreement §3.7: a POD beneficiary cannot withdraw unless (i) all account owners have died and (ii) the beneficiary is then living; two or more surviving beneficiaries take in equal shares unless otherwise indicated, without right of survivorship
- Deposit Account Agreement §3.7: a POD beneficiary's right to the funds is subject to the bank's security interest and right of setoff — debts owed to Old National come out first
- A POD designation overrides the will for that account
- A trust can be named as POD beneficiary; the bank will want the trust name, date, and tax ID
- Deposit Account Agreement §3.12: beneficiary and ownership changes are effective only after the bank agrees, receives all required documentation, and has had reasonable time to act
Sources
Data sourced from Old National primary sources (18 pages reviewed). How we research.
Download these Old National instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Old National primary sources. Bring it to the branch or keep it beside the phone.
Old National Client Care
General correspondence: Old National Bancorp, One Main Street, PO Box 718, Evansville, IN 47705-0718. Notices of error and requests for information about an Old National LOAN (only): Old National Bank, Attn: Client Success, P.O. Box 143, Evansville, IN 47701.
Old National Client Care
General correspondence: Old National Bancorp, One Main Street, PO Box 718, Evansville, IN 47705-0718. Notices of error and requests for information about an Old National LOAN (only): Old National Bank, Attn: Client Success, P.O. Box 143, Evansville, IN 47701.
Old National Client Care (deposit accounts; there is no separate published estate-claims department — estate documents are presented at a banking center)
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