Estate planning options at Origin

Two or more surviving beneficiaries own the account in equal shares without right of survivorship, unless the account says otherwise. Named beneficiaries are treated as primary unless they are marked contingent.¹

A beneficiary may withdraw from an In Trust For or Payable on Death account only after all of the account owners have died, and only if the beneficiary is then living.¹

If every beneficiary dies before the owners, the payable-on-death designation ends and the funds belong to the owners.¹

A payable-on-death beneficiary receives only what remains after the owner's outstanding checks and debits are paid.¹

Origin says the person named as beneficiary on an account or policy receives those assets regardless of what a will says.²

The Deposit Account Agreement provides for accounts set up as trust accounts, and makes the account holder solely responsible for determining the legal effects of opening and maintaining one.¹

Trust accounts are not eligible for the Origin Bank Funds Transfer service.³