Estate planning at Beacon Bank

Yes. A trust can be named as a POD beneficiary on Beacon Bank deposit accounts. You will need to provide trust documentation such as a Certification of Trust. Contact your local branch or call 800-698-BANK (800-698-2265) for assistance with trust beneficiary designations, as additional documentation may be required.

Yes. Beacon Bank supports both revocable and irrevocable trust accounts for checking, savings, money market, and CD accounts. Visit a branch with your Certification of Trust or complete trust agreement, government-issued ID for all trustees, and the trust tax ID number. Existing accounts can typically be retitled to trust ownership at a branch.

Beacon Bank typically requires a Certification of Trust (or full trust agreement), government-issued photo ID for all trustees, and the trust's tax identification number (EIN or grantor SSN for revocable trusts). If you do not have a Certification of Trust, bring relevant pages of the trust agreement identifying the trust name, date, grantors, trustees, and trustee powers.

IRA beneficiary designations at Beacon Bank are handled through the IRA Beneficiary Designation form, available at any branch or by calling 800-698-BANK (800-698-2265). You can designate both primary and contingent beneficiaries. A trust can be named as an IRA beneficiary. IRAs cannot be retitled to a trust; beneficiary designation is the only transfer method for retirement accounts.

Yes. Beacon Bank deposit accounts are FDIC insured. POD beneficiaries receive separate FDIC insurance coverage of up to $250,000 per beneficiary. Trust accounts are FDIC insured based on the number of qualifying beneficiaries, up to the maximum allowed by law.

Berkshire One accounts are the standard product line with low or no fees and no minimum balance requirements (checking requires just $10 to open). Berkshire Direct is a premium tier that requires a $3,000+ monthly direct deposit or $5,000+ average balance to waive the $35 monthly fee, but includes nationwide ATM fee reimbursement and free checks. Both product lines support POD beneficiary designations and trust account titling.

Yes. Beacon Bank's Wealth Management division provides trust administration and estate planning services across its five-state footprint (MA, CT, NY, VT, RI). Services include fiduciary trust administration, estate settlement, investment management, and financial planning. Contact the Wealth Management team at 800-698-2265 or visit beaconbank.com/wealth-management.