How to name beneficiaries and fund a trust at Sunward

A payable-on-death designation on Sunward's other accounts does not reach an IRA, and an IRA cannot be owned jointly.¹

A custodial (UTMA) account takes neither a payable-on-death payee nor a joint owner; one custodian controls it for the child.^{1, 2}

Payees who survive the last owner share the account equally and without survivorship among themselves, unless Sunward has documented another split.¹

Owners can change the payable-on-death payees at any time. A payee has no right to the money until the last owner dies.⁴

A payable-on-death account stays the owners' own money while they live; the payees take only after the last owner dies.¹

Sunward has no duty to tell a payee that an account exists or that it has passed to the payee.¹

A surviving joint owner is the only person who can reach the account after an owner dies, whatever the relationship by then. A joint owner comes off an account only on death or with that owner's consent.^{3, 4}

Every Sunward joint account carries survivorship, so the surviving owners take the balance ahead of any payable-on-death payee.¹

A living trust account at Sunward cannot have joint owners or a payable-on-death payee, and the agreement's payable-on-death terms do not apply to it.¹

Sunward will set up an account to follow a trust on request, but it does not advise on which arrangement fits, and it may refuse instructions it sees as risky or ask for an indemnity or a bond.¹

Trust and estate planning services for Sunward members, including revocable living trusts⁵

Beneficiary planning and account titling questions for investment accounts held through LPL⁶