How to name beneficiaries and fund a trust at TrustCo Bank
Covers 10 deposit, 3 retirement, and 2 lending accounts — beneficiaries must be updated in-branch
Customer Service
Trustco Bank, P.O. Box 1082, Schenectady, NY 12301-1082
Trustco Bank Wealth Management (trust administration and estate settlement)
Customer Service (no dedicated bereavement unit -- claims are worked by the branch manager; trust and estate accounts route to Wealth Management at 518-381-3643)
Trustco Bank, P.O. Box 1082, Schenectady, NY 12301-1082
There are two ways to keep your TrustCo Bank 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.
TrustCo Bank has 15 product types, and the estate transfer rules differ across them. Some support Payable on Death (POD) designations, some can be retitled into a trust, and others will require probate if nothing is set up. Each is covered below.
- Request to add or update POD (Payable on Death) beneficiary designation
- Provide beneficiary information: full legal name, date of birth, Social Security number, and relationship
- Sign the beneficiary designation form
- Retain a copy of the signed form for your records
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- TrustCo has no online beneficiary-designation screen. Its online banking portal and its own FAQ page both route account-record changes to a branch manager, so POD designations are made on the paper signature card at a branch or by mail
- To locate the nearest branch, use https://www.trustcobank.com/branch-and-atm-locator/ -- TrustCo's branch network is concentrated in the New York Capital District and Central Florida
- Trusts named as beneficiaries require trust documentation including trust name, date, and trustee information
- IRA beneficiary changes may require a separate IRA-specific beneficiary designation form
Sources
Data sourced from TrustCo Bank primary sources (22 pages reviewed). How we research.
Download these TrustCo Bank instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against TrustCo Bank primary sources. Bring it to the branch or keep it beside the phone.
Customer Service
Trustco Bank, P.O. Box 1082, Schenectady, NY 12301-1082
Trustco Bank Wealth Management (trust administration and estate settlement)
Customer Service (no dedicated bereavement unit -- claims are worked by the branch manager; trust and estate accounts route to Wealth Management at 518-381-3643)
Trustco Bank, P.O. Box 1082, Schenectady, NY 12301-1082
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