Estate planning options at Renasant Bank

An IRA beneficiary designation is a separate IRA document. The Deposit Account Agreement does not affect it.¹

POD funds are paid to the person or persons then living who are named as beneficiary or beneficiaries (Section 15).²

A named POD beneficiary is paid "whether an adult or minor" (Section 15).²

On the death of the owner or surviving owners, POD funds are paid in equal shares to the named beneficiaries who are then living (Section 15).²

During the owner's lifetime a beneficiary's interest is revocable, and only the owner or the owner's authorized signers may withdraw funds (Section 15).²

POD accounts are subject to applicable law, Renasant's security interest in the account and its right of setoff (Section 15).²

Renasant states it has "no obligation to notify any beneficiary of the existence of any account or the vesting of any interest in any account" (Section 15).²

A fiduciary account is opened by a fiduciary such as a trustee acting under a fiduciary document such as a trust, for another person, the beneficiary (Section 18).²

An interest in an existing account cannot be assigned or transferred unless Renasant agrees in writing in advance (Section 22).²

Renasant is not a fiduciary on the account. It is not required to and will not enforce the fiduciary document or monitor the account for compliance with it, and has no duty to ensure proper use of account funds (Section 18).²

Each fiduciary on the account guarantees that the other fiduciaries will comply with the fiduciary documents, is liable for their actions, and indemnifies Renasant against claims by or on behalf of a beneficiary or another fiduciary (Section 18).²

Trusts that Renasant administers³