Estate planning options at Stock Yards Bank

The Terms & Conditions apply their ownership rules according to "the form of ownership and beneficiary designation, if any, specified on the account records." The bank reserves the right to refuse some forms of ownership and beneficiary designations.¹

The person or persons who create a pay-on-death account may change beneficiaries, change account types and withdraw all or part of the funds at any time.¹

A Joint Account With Survivorship passes to the surviving owner or owners. A Joint Account No Survivorship creates no right of survivorship.¹

An account may not be transferred or assigned without the bank's prior written consent.¹

At a Kentucky branch the pay-on-death account is a Revocable Trust or Pay-On-Death Account. A beneficiary cannot withdraw until every person who created the account has died, and two or more surviving beneficiaries own it in equal shares without right of survivorship.¹

At an Ohio branch the pay-on-death account is a Revocable Trust or Pay-On-Death Account. A beneficiary cannot withdraw until every person who created the account has died, and two or more surviving beneficiaries own it in equal shares without right of survivorship.¹

At an Indiana branch the account types are a Revocable Trust Account/In Trust For, a Pay-on-Death Account with LDPS (a beneficiary who dies first is replaced by that beneficiary's lineal descendants per stirpes) or a Pay-on-Death Account No LDPS.¹

At an Indiana branch, if no beneficiary survives every person who created the account, the property belongs to the owner's estate unless it is directed to a substitute beneficiary under the LDPS rules.¹

Under the Fiduciary Accounts clause, an account "may be opened and maintained by a person or persons named as a trustee under a written trust agreement."^{1, 2}

Secure Checking's benefits are not available to trusts.³

By merely opening a trust account, Stock Yards is not acting as a trustee and takes on no obligation to monitor or enforce the terms of the trust.¹

Revocable, irrevocable, testamentary and charitable trusts, as trustee, successor trustee or investment manager⁴