Estate planning options at One Nevada CU

A separate beneficiary designation governs an IRA, so a POD designation on another account does not apply to it.¹

A separate beneficiary designation governs a certificate account. A certificate with no POD beneficiary of its own is governed by the POD designation on the share savings account.¹

The Membership Agreement states the member "irrevocably waives the right to make a testamentary disposition of any account with the Credit Union, now and in the future."¹

A POD account is payable to the owners during their lifetimes.¹

A POD account pays the named and surviving POD beneficiaries only on the death of the last joint account owner. A surviving joint owner takes ahead of the POD beneficiary.¹

When more than one POD beneficiary is named, they own the account jointly with rights of survivorship.¹

All accounts are non-assignable and nontransferable to third parties without One Nevada's prior written consent.¹

One Nevada has no obligation to notify any beneficiary of the existence of an account or the vesting of the beneficiary's interest, except as otherwise provided by law.¹

Under the Membership Agreement, an individual account may be owned by a trust qualified for credit union membership.¹

A trustee may open a fiduciary account in that capacity.¹

The trust is the sole owner of a fiduciary account. The trustee has no ownership interest and is the only authorized party to transact on it.¹

The Membership Agreement lets One Nevada require a member to close an account and apply for a new one when there is a change in owners.¹

The Membership Agreement says the credit union may rely on a fiduciary's representations and has no duty to examine the authorizing documents.¹

One Nevada may refuse trust account instructions it believes could expose it to claims, or require a bond or indemnity.¹