Estate planning at Prosperity Bank

Yes. A trust can be named as a POD beneficiary on Prosperity Bank deposit accounts. You will need to provide the trust name, date of establishment, and tax identification number. Visit your local banking center with the trust documentation to complete this designation.

Yes. Prosperity Bank supports trust accounts for checking, savings, money market, and CD accounts. Visit your local banking center with your Certification of Trust or full trust agreement, government-issued ID for all trustees, and the trust's tax identification number. Existing personal accounts can also be retitled to a trust. Prosperity Bank offers professional trust administration through its Wealth Management and Trust Services division.

Prosperity Bank's Wealth Management and Trust Services division provides personal trust and estate administration, living trust administration, testamentary trust management, special needs trusts, guardianships, mineral and oil/gas management, customized investment portfolios, managed IRAs, and employee benefit plans including 401(k) administration. Their Prosperity Portfolios suite offers various asset allocation strategies ranging from aggressive growth to income-focused approaches. Contact your local banking center or the Wealth Management team for more details.

No. IRAs cannot be retitled to a trust under federal tax rules. However, you can name a trust as the beneficiary of your IRA. Visit your local Prosperity Bank banking center to complete the IRA Beneficiary Designation form, specifying the trust name, date, and tax identification number.

Prosperity Bank offers Traditional IRA, Roth IRA, Roth Conversion IRA, Coverdell Education Savings Account (CESA), Health Savings Accounts, and Simplified Employee Pension (SEP) IRA. IRAs can be invested in CDs, savings, and other qualifying products. Contact your local banking center for current rates and terms.

Yes. Prosperity Bank is FDIC insured, backed by the full faith and credit of the U.S. Government. POD beneficiaries receive separate FDIC insurance coverage of up to $250,000 per beneficiary. Trust accounts are also FDIC insured based on the number of qualifying beneficiaries, up to the maximum allowed by law.