How to name beneficiaries and fund a trust at PNC Bank

On checking, savings and money market accounts, the POD beneficiaries are the beneficiaries designated on the account signature card.¹

On a CD, the POD beneficiaries are the beneficiaries designated on the account signature card.²

TOD beneficiaries on a PNC Wealth Management brokerage account are designated, and changed, by filling out a new Beneficiary Designation Form. PNC Wealth Management and NFS rely on the latest form accepted in good order.³

Where state law lets an account holder change an account or the distribution of its funds by written notice, PNC requires the notice to be notarized and sent to the address it names for it.¹

For payable-on-death accounts. Sent by the institution on request.^{1, 2}

For investment accounts. Sent by the institution on request.³

POD beneficiaries have a right of survivorship among themselves: if one dies before the owner, the surviving POD beneficiaries take the account and the deceased beneficiary's heirs take nothing.^{1, 2}

Checking the Per Stirpes box on the Beneficiary Designation Form passes a predeceased beneficiary's share to that beneficiary's descendants as determined by state law. Without it, that share is divided equally among the surviving primary beneficiaries.³

If no POD beneficiary survives the last owner, the account is payable to that owner's heirs, or to the estate if a formal estate is raised.^{1, 2}

A notarized written notice changing an account takes effect only once PNC has received it at the address it names and had a reasonable opportunity to act on it. Notice sent to any other PNC address is deemed failure to give notice.¹

Instead of acting on a written notice changing an account, PNC may require the account to be closed.¹

A TOD beneficiary named on the Beneficiary Designation Form cannot be changed by will, codicil or trust.³

For accounts in Florida, POD beneficiaries may only have equal shares.^{1, 2}

A revocable or irrevocable trust account can be opened by a trustee named in a trust agreement.⁴

Trust and estate administration, including custody services and estate settlement services⁵

Delaware and Ohio asset protection trusts, directed trust planning services and dynasty trusts⁵