Estate Planning & Account Settlement
Providing Peace of Mind for You and Yours
With an estate plan, you can take control of the legacy you leave—allowing you to preserve your assets while you're alive and manage their distribution after your death.
Information on this web page is not legal advice and should not be construed as such. We recommend you consult with an independent legal advisor or, where appropriate, contact your local probate court where the property is located for information on the probate process.
Trust Services
Offering experience, advice and personal attention, Navy Federal's Trust Services offer estate and financial planning to help protect your legacy and your family's financial future.
Planning Your Estate
Planning ahead gives you and your survivors peace of mind that they'll be taken care of and ensures any property will be handled according to your wishes. Not sure where to start? A basic estate plan includes the following:
- Will: Specifies the method for management and distribution of your assets after your death.
- Power of Attorney: Authorizes another person to act in legal or financial matters on your behalf.
- Trust: Defines how money and property will be handled for beneficiaries and is managed by a trustee.
- Living Will: Details wishes regarding medical treatment when you're unable to express your desires.
The specifics of an estate plan vary depending on your age, health, wealth, lifestyle, life stage, goals and many other factors. A good plan can help avoid legal hang-ups, minimize estate taxes and ease family tensions. Work with a trust officer to determine your particular estate planning needs.
Settling a Navy Federal Account
After a loved one passes on, settling their accounts can be a difficult responsibility. Working with a case specialist can make the process much less daunting. A specialist will help analyze the deceased member's Navy Federal accounts and:
- determine necessary account adjustments, including closing accounts
- determine entitlement to account funds
- inform about required legal documents
- provide a summary of all actions taken when settlement is complete
Estate Management Accounts
Find the right account to properly manage your assets so your loved ones and finances are protected.
Deposit Trust Account
Manage and disburse trust assets without the estate settlement process.
- Grantors and beneficiaries of trust must be Navy Federal members
- Legal trust required prior to account opening
- Qualifying accounts include share certificates, money market accounts, as well as checking and savings accounts
- Additional share insurance coverage provided
Get Started with a deposit trust account
Custodial Account
Oversee money gifted to a minor in a savings account while they earn dividends on those funds.
- Funds are kept separate from both the custodian and minor's Navy Federal accounts
- Minor is only able to withdraw funds when the custodian instructs Navy Federal to release account funds
Get Started with a custodial account
Estate Account
Keep estate assets in a checking and savings account, and transfer funds as needed to pay taxes and other needs during the estate settlement process.
- $5 minimum balance required for savings account
- Eligible checking accounts include Association Checking or Flagship Checking accounts
- Flagship Checking option earns dividends
Get Started with an estate account
Payable on Death (POD) Accounts
Assign your Navy Federal assets to your desired beneficiaries without the estate settlement process.
- Legal trust not required prior to account opening
- Beneficiaries can only access money after death
- Qualifying accounts include share certificates, money market accounts, as well as checking and savings accounts
- Additional share insurance coverage provided
Get Started with a payable on death account