Preparing your Eastern accounts for estate transfer involves two primary strategies: designating beneficiaries on individual accounts and, where supported, retitling accounts into a revocable living trust. Both approaches bypass probate, but they work differently depending on the account type.

With 13 product types, Eastern offers a range of transfer options. Some accounts support Payable on Death (POD) designations, others can be retitled into a trust, and some require probate if no beneficiary is designated. The sections below break down each step.

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1Visit an Eastern Bank branch location with government-issued ID

2Request to add a POD (Payable on Death) or ITF (In Trust For) beneficiary designation

3Complete the beneficiary designation form with beneficiary names, dates of birth, and Social Security numbers

4Specify percentage allocations if naming multiple beneficiaries

5Review and sign the completed form with a branch representative

Required Documents

Trust name, date established, and tax ID (EIN or SSN)

Special Requirements

POD beneficiary also called In Trust For (ITF) at Eastern Bank
Trusts can be named as POD/ITF beneficiaries
POD/ITF accounts avoid probate and pass directly to named beneficiaries
Beneficiaries need certified death certificate and valid government-issued ID to claim funds
Named beneficiaries override instructions in a will