How to name beneficiaries and fund a trust at Sunmark
Covers 15 deposit, 2 retirement, and 1 investment accounts — beneficiaries must be updated in-branch
Sunmark Credit Union, 1187 Troy Schenectady Road, Latham, NY 12110
Sunmark Credit Union, 1187 Troy Schenectady Road, Latham, NY 12110
Member Solutions Center
Sunmark Credit Union, 1187 Troy Schenectady Road, Latham, NY 12110
The goal with your Sunmark accounts is to make sure every account has a transfer mechanism in place—either a POD beneficiary designation or trust ownership. Because Sunmark is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts without either one will require probate, which means court involvement and delays for your family.
Sunmark has 18 accounts with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
- Full name, date of birth, Social Security number, and relationship
- Designate primary and contingent beneficiaries
- Specify percentage allocation if naming multiple beneficiaries
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- POD designations available for deposit accounts (checking, savings, certificates, money market)
- IRA accounts require a separate beneficiary designation form
- Investment account beneficiaries managed separately through LPL Financial
- Changes to beneficiaries can be made at any time by the account owner
- Sunmark cannot provide legal, tax, or estate planning advice
Sources
Data sourced from Sunmark primary sources (14 pages reviewed). How we research.
Download these Sunmark instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Sunmark primary sources. Bring it to the branch or keep it beside the phone.
Sunmark Credit Union, 1187 Troy Schenectady Road, Latham, NY 12110
Sunmark Credit Union, 1187 Troy Schenectady Road, Latham, NY 12110
Member Solutions Center
Sunmark Credit Union, 1187 Troy Schenectady Road, Latham, NY 12110
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