Estate planning at TowneBank
How to protect 14 TowneBank accounts — manage beneficiaries in-branch, fund a trust in-branch, and file claims through TowneBank's Towne Trust
Towne Member Care
TowneBank, 297 Constitution Dr, Virginia Beach, VA 23462
Death Claims / Processing Services
TowneBank, Attn: Processing Services, P.O. Box 2818, Norfolk, VA 23501
TowneBank offers 14 consumer accounts that interact with estate planning in distinct ways. Of those, 12 can name a trust as beneficiary or be retitled into a trust. Understanding the transfer methods available for each account type helps families keep assets out of probate and ensure they pass to the right people.
Beneficiary designations at TowneBank can be managed in branch, by mail, and by phone, typically taking 15-30 minutes in branch. Trust funding is also available, allowing families to retitle accounts into the name of a revocable living trust.
TowneBank has documented procedures for both preparing accounts during your lifetime and handling claims when an account holder passes away.
Preparing your estate
Beneficiaries and trust funding
How to update beneficiaries in-branch, fund a trust in-branch, and review 14 account types at TowneBank.
View details →When someone dies
Death claim process
Contact TowneBank's Towne Trust to file a claim. 3-step process, 9 required documents, and contact information for survivors.
View details →For questions about any of these procedures, contact TowneBank's Towne Trust at 1-757-599-2200.
Because TowneBank serves a limited number of states, procedures for trust funding and beneficiary changes may differ depending on your location. Verify availability before starting.
Frequently asked questions
A Certification of Trust (or the complete trust agreement), government-issued photo ID for every trustee, and the trust tax identification number (EIN, or the grantor's SSN for a revocable living trust). The Certification of Trust needs to show the trust name, the date of the trust agreement, the grantor and trustee names, and the trustee powers. Existing personal checking, savings, money market, and CD accounts can be retitled into the trust; IRAs cannot be retitled and instead name the trust as beneficiary.
Sources
Data sourced from TowneBank primary sources (25 pages reviewed). How we research.
Towne Member Care
TowneBank, 297 Constitution Dr, Virginia Beach, VA 23462
Death Claims / Processing Services
TowneBank, Attn: Processing Services, P.O. Box 2818, Norfolk, VA 23501
Estate planning articles
Learn how to protect your TowneBank accounts and other assets with trusts, beneficiary designations, and estate planning documents.
