Estate planning options at Pelican State CU
Estate planning at Pelican State CU means getting each account set up so it transfers automatically when you die—either through a POD beneficiary or trust ownership. Because Pelican State CU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Without one of these in place, accounts may require probate before your family can access the funds.
Pelican State CU offers 10 accounts, each with its own transfer rules. The sections below cover how to set up beneficiaries, fund a trust, and which products support each approach.
No beneficiary form at Pelican State CU
Required Documents
- Signed Account Change Card, Member Services Request or other document Pelican accepts (if Pelican requires one for the change)
Required Documents
- Signed Account Change Card, Member Services Request or other document Pelican accepts (if Pelican requires one for the change)
What Pelican State CU says about beneficiaries and trusts
Each section is Pelican State CU's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary2
- Payable-on-death account
Under Section 4 of the account agreement, a POD or trust account designation makes an individual or joint account payable, when the last owner dies, to all surviving POD or trust beneficiaries.1
How many beneficiaries, and how shares are split
- Payable-on-death account
When more than one POD beneficiary survives, they own the funds jointly in equal shares without rights of survivorship, unless state law provides for different ownership or Pelican has permitted and documented a different arrangement.1
What a designation takes to be effective
- All accounts
Section 28 of the Membership and Account Agreement lets Pelican require that account changes be evidenced by a signed Account Change Card, Member Services Request or other document it accepts.1
- IRA
When a married owner's spouse is not the sole primary beneficiary, Pelican requires spousal consent where the IRA is opened in a community property state, including Louisiana.3
What Pelican State CU's agreement says about beneficiaries2
- Joint accounts
Section 3.a of the account agreement says "Louisiana law does not authorize Joint Tenancy with Rights of Survivorship accounts." A surviving joint owner may continue to use the account and make withdrawals.1
- Claims against the account
A surviving joint owner's interest is subject to Pelican's statutory lien for the deceased owner's obligations (Section 3.a of the account agreement).1
Which accounts a trust can hold1
What Pelican State CU says about trust accounts2
- Review of the trust document
Under Section 28 of the Membership and Account Agreement, Pelican may facilitate certain trust, will or court-ordered account arrangements but does not advise which arrangement meets a trust's requirements. It may refuse instructions it believes expose it to liability, or require an indemnity or a bond.1
- Membership
Opening any account requires the membership share (par value $5.00).5
Not in Pelican State CU's published guidance4
- A beneficiary designation form
- POD designation procedure
- A procedure for holding an account in a trust
- Which trust documents it accepts
Sources
Data sourced from Pelican State CU primary sources (16 pages reviewed). How we research.
Download these Pelican State CU instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Pelican State CU primary sources. Bring it to the branch or keep it beside the phone.
Pelican State CU estate support
Phone
Text
Lost or stolen cards (menu option 2)
Card disputes
Collateral Protection Insurance questions
Zelle customer support
Loan reminder team (outbound calls)
Fax
Mailing address
Website
Estate requests go through general customer service.
Estate planning articles
Learn how to protect your Pelican State CU accounts and other assets with trusts, beneficiary designations, and estate planning documents.
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Free forms for planning your estate: a will, living trust, pour-over will, both powers of attorney, living will, and TOD deed.
Revocable Living Trust
Create a revocable living trust to avoid probate, protect privacy, and control asset distribution.
Last Will and Testament
Name your heirs, guardians, and final wishes. Free for every state.
Transfer on Death Deed
Transfer real property to a beneficiary upon your death without probate. Available in 34 states and the District of Columbia.
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