Estate planning options at Zions Bank

A Payable on Death beneficiary can be added to a deposit account. Zions Bank also calls these "In Trust For" or "Totten Trust" accounts.¹

If more than one beneficiary is named in Zions Bank's records, they share equally in the account proceeds.¹

Only account owners who are natural persons may designate Payable on Death beneficiaries.¹

The account owner is responsible for meeting any state law requirements for creating a Payable on Death account.¹

During their lifetime, account owners may add or remove a beneficiary, change the account type or ownership, or close the account at any time.¹

On a joint account with a Payable on Death designation, the beneficiary is paid only after the death of the last surviving owner.¹

Zions Bank may set off a deceased owner's debts to the bank against an account with payable-on-death beneficiaries, up to the full balance at the time of death.¹

Zions Bank's Deposit Account Agreement describes opening an account in a fiduciary capacity, such as a trustee's.¹

A revocable trust supplies Zions Bank with documentation establishing the identity of its successor trustees, and notifies the bank of any amendment that affects management or control of the trust account, including changes to the trustees or successor trustees.¹

Zions Bank does not assume fiduciary responsibilities or monitor a fiduciary account for compliance with the trust unless it agrees to in writing.¹

Co-trustee or agent for an individual trustee, and executor, coexecutor or agent for executor representation^{2, 3}