Estate planning options at Western Alliance

The owner of a sole or joint account can make it payable on death to one or more POD beneficiaries.¹

On a High-Yield Savings Premier account, the Primary Account owner can make the account payable on death to one or more POD beneficiaries once the account is open.^{2, 3}

On a High-Yield Savings Premier joint account, the joint account holder cannot be named as a beneficiary.³

When more than one POD beneficiary survives, each takes an equal share unless the bank's records state otherwise.¹

State law may require words in the account title such as "payable on death," "POD," "in trust for," "ITF," "transfer on death," "TOD" or "Totten Trust." If state requirements for a POD account are not met, the bank may treat the account as if no POD beneficiary was named.¹

The account's ownership type can change how its funds are paid at death, even if a will states otherwise.¹

Beneficiaries have no right to the funds during the owner's lifetime.¹

The owner can change the POD beneficiaries by written direction to the bank.¹

If no beneficiary survives the last account holder, state law determines who owns the funds.¹

A trust account is held in the name of a trust for the benefit of one or more beneficiaries under a written trust agreement.¹

Western Alliance Bank acts only as a depository for trust funds and does not act as trustee or trust administrator or review the trustees' powers.¹

Trustees who open the account agree to indemnify the bank against claims by any beneficiary or other trustee.¹

Corporate trust, loan administration and institutional custody services⁴