How to name beneficiaries and fund a trust at Third Federal
Trust paperwork is taken in branch
There are two ways to keep your Third Federal accounts out of probate: adding beneficiary designations and retitling eligible accounts into a revocable living trust. Which approach works best depends on the account type and your overall estate plan.
Each of Third Federal's 11 accounts has different rules for how it transfers at death. The sections below explain the options for each.
Required Documents
- Beneficiary's name (for each IRA beneficiary)
- Beneficiary's taxpayer identification number (TIN) (for each IRA beneficiary)
- Beneficiary's date of birth (for each IRA beneficiary)
- Beneficiary's current address (for each IRA beneficiary)
- Beneficiary's current phone number (for each IRA beneficiary)
- Beneficiary's relationship to the IRA owner (for each IRA beneficiary)
- Third Federal states that trust accounts "currently can only be opened in person at one of our branch locations"
- Branch list
- The Deposit Account Agreement defines a formal trust account as one held by trustees under a written trust agreement
- On request, the trustee supplies a complete copy of the trust agreement and any amendments
- Or another document or certification that applicable law permits Third Federal to rely on as a summary or description of the trust
- Third Federal lists Interest Checking, Interest Savings, Certificates of Deposit, and Money Market accounts as available for individuals and trusts
- Online Savings Plus must be opened online, and online accounts are individual or joint only
Required Documents
- Trust agreement and any amendments, or a certification of trust (on Third Federal's request). A complete copy of the trust agreement and any amendments, or a certification or other summary of the trust that applicable law permits the bank to rely on
Required Documents
- Beneficiary's name (for each IRA beneficiary)
- Beneficiary's taxpayer identification number (TIN) (for each IRA beneficiary)
- Beneficiary's date of birth (for each IRA beneficiary)
- Beneficiary's current address (for each IRA beneficiary)
- Beneficiary's current phone number (for each IRA beneficiary)
- Beneficiary's relationship to the IRA owner (for each IRA beneficiary)
Required Documents
- Beneficiary's name (for each IRA beneficiary)
- Beneficiary's taxpayer identification number (TIN) (for each IRA beneficiary)
- Beneficiary's date of birth (for each IRA beneficiary)
- Beneficiary's current address (for each IRA beneficiary)
- Beneficiary's current phone number (for each IRA beneficiary)
- Beneficiary's relationship to the IRA owner (for each IRA beneficiary)
What Third Federal says about beneficiaries and trusts
Each section is Third Federal's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary1
- Payable-on-death account
The Deposit Account Agreement provides for payable on death (POD) accounts with one owner, or with multiple owners and right of survivorship.1
Who can be named4
- A person, IRAs
An IRA owner can name individuals as primary or contingent beneficiaries.2
- A trust, IRAs
An IRA owner can name a trust as a primary or contingent beneficiary.2
- A charity or nonprofit, IRAs
An IRA owner can name a charitable organization as a primary or contingent beneficiary.2
- An entity other than a trust or a business, IRAs
An IRA owner can name other entities as primary or contingent beneficiaries.2
What a designation takes to be effective
- Payable-on-death account
On a POD account with more than one owner, any one owner can deposit or withdraw, but all POD owners must sign to change or delete the designated beneficiaries.1
What Third Federal's agreement says about beneficiaries2
State requirements Third Federal statesFlorida
- Florida
The Deposit Account Agreement states that Florida POD accounts are governed by Florida law, as is a pay-on-death designation made on a NOW account by a Florida resident at a Florida branch.1
For Florida joint accounts in the names of spouses, the Deposit Account Agreement states the account is not owned as tenants by the entireties, and Third Federal reserves the right to refuse entireties ownership.1
Which accounts a trust can hold2
- Trust account
Interest Checking, Interest Savings, Certificates of Deposit and Money Market accounts are available for individuals and trusts.3
Under the Deposit Account Agreement, a formal trust account is one held by trustees under a written trust agreement.1
Online Savings Plus must be opened online, and online accounts are individual or joint only.4
- IRA
Third Federal describes IRA accounts as individual accounts; a trust is named as an IRA beneficiary rather than as owner.2
What Third Federal says about trust accounts1
- Review of the trust document
Under the Deposit Account Agreement, Third Federal acts only as the depository for trust funds and is under no obligation to act as a trustee or to inquire into the trustee's powers or duties.1
Accounts handled elsewhere1
- Forethought Life Insurance Company
Fixed annuities sold through ThirdFed Insurance5
Not in Third Federal's published guidance1
- Procedure for adding or changing a POD beneficiary, for deposit accounts
Sources
Data sourced from Third Federal primary sources (20 pages reviewed). How we research.
Download these Third Federal instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Third Federal primary sources. Bring it to the branch or keep it beside the phone.
Third Federal estate support
Customer Care
Phone
Customer Care (1-800-THIRD-FED)
Personal MoneyLine (automated account information)
IRA representatives
Hours
Website
Estate requests go through general customer service.
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