Estate planning options at Triumph
There are two ways to keep your Triumph 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.
Triumph has 9 accounts with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
Beneficiary form at Triumph
Uniform Single-Party or Multiple-Party Account Selection Form Notice (Texas) (for payable-on-death accounts).
Open the form →Required Documents
- Account Selection Form Notice with an account type initialed (for a Texas account)
- Names of the P.O.D. beneficiaries (entered on the Texas account selection form)
Required Documents
- Account Selection Form Notice with an account type initialed (for a Texas account)
- Names of the P.O.D. beneficiaries (entered on the Texas account selection form)
What Triumph says about beneficiaries and trusts
Each section is Triumph's own statement, with the document it comes from numbered under Sources.
Beneficiary forms Triumph issues1
- Uniform Single-Party or Multiple-Party Account Selection Form Notice (Texas)
For payable-on-death accounts. Completed by the account owner. Available to download.1
What Triumph's agreement says about beneficiaries1
- Which state governs the account
TBK Bank applies ownership rules "depending on the form of ownership and beneficiary designation, if any, specified on the account records," under the section of its Terms and Conditions for the state where the account is held.2
State requirements Triumph statesTexas, Colorado, New Mexico, Kansas, Iowa, Illinois
- Texas
On a single-party account with a P.O.D. designation, the account passes to the P.O.D. beneficiaries and is not part of the party's estate.2
A convenience signer owns the account on the owner's death only if also designated as a P.O.D. payee or trust account beneficiary.2
The Selection Form Notice states: "The type of account you select may determine how property passes on your death. Your will may not control the disposition of funds held in some of the following accounts."1
- Colorado
On a Single-Party Account With Pay-on-Death Designation, ownership passes at death to the designated pay-on-death beneficiaries and is not part of the party's estate.2
TBK Bank reserves "the right to refuse some forms of ownership and beneficiary designations on any or all of our accounts unless otherwise prohibited by law."2
- New Mexico
On a Single-Party Account With Pay-on-Death Designation, ownership passes at death to the designated pay-on-death beneficiaries and is not part of the party's estate.2
TBK Bank reserves "the right to refuse some forms of ownership and beneficiary designations on any or all of our accounts unless otherwise prohibited by law."2
- Kansas
On a Revocable Trust or Pay-On-Death Account, beneficiaries cannot withdraw unless all persons creating the account have died and the beneficiary is then living. The persons creating the account may change beneficiaries, change account types and withdraw funds at any time.2
TBK Bank reserves "the right to refuse some forms of ownership and beneficiary designations on any or all of our accounts unless otherwise prohibited by law."2
- Iowa
On a Revocable Trust or Pay-On-Death Account, beneficiaries cannot withdraw unless all persons creating the account have died and the beneficiary is then living. The persons creating the account may change beneficiaries, change account types and withdraw funds at any time.2
TBK Bank reserves "the right to refuse some forms of ownership and beneficiary designations on any or all of our accounts unless otherwise prohibited by law."2
- Illinois
On a Revocable Trust or Pay-On-Death Account, beneficiaries cannot withdraw unless all persons creating the account have died and the beneficiary is then living. The persons creating the account may change beneficiaries, change account types and withdraw funds at any time.2
TBK Bank reserves "the right to refuse some forms of ownership and beneficiary designations on any or all of our accounts unless otherwise prohibited by law."2
What Triumph says about trust accounts2
- Whether a new account is opened
Under TBK Bank's Terms and Conditions, an account "may be opened and maintained by a person or persons named as a trustee under a written trust agreement."2
- Review of the trust document
By merely opening the account, TBK Bank is "not acting in the capacity of a trustee in connection with the trust" and does not "undertake any obligation to monitor or enforce the terms of the trust or letters."2
State requirements Triumph statesTexas
- Texas
The "Trust Account" type on the account selection form is a different arrangement from an account opened by a trustee under a written trust agreement: a beneficiary may not withdraw before all trustees are deceased.1
Not in Triumph's published guidance5
- Separate beneficiary designation or change form
- An online way to name a beneficiary
- A trust account form
- Which trust documents it accepts
- Trust department or brokerage
Sources
(3)·
Data sourced from Triumph primary sources (21 pages reviewed). How we research.
Download these Triumph instructions
A printable PDF with the steps, required documents, and contact details, verified against Triumph primary sources. Bring it to the branch or keep it beside the phone.
Triumph estate support
Customer Care Center
Phone
Treasury Management
Hours
Website
Estate requests go through general customer service.
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