How to name beneficiaries and fund a trust at Eastern
Covers 7 deposit, 4 retirement, and 2 lending accounts — beneficiaries must be updated in-branch
Eastern Bank Customer Service Center
Eastern Bank, Customer Service Center, P.O. Box 391, Lynn, MA 01903-0491
Cambridge Trust Wealth Management, a Division of Eastern Bank (Trust & Estates)
Cambridge Trust Wealth Management, 125 High Street, Suite 901, Boston, MA 02110
Customer Service Center (deceased-account reporting and estate accounts)
Eastern Bank, Customer Service Center, P.O. Box 391, Lynn, MA 01903-0491
The key to protecting your Eastern accounts is making sure each one has a transfer mechanism in place—either a beneficiary designation or trust ownership. Without one, the account goes through probate, adding time, cost, and court involvement for your family.
Eastern has 13 product types, and the estate transfer rules differ across them. Some support Payable on Death (POD) designations, some can be retitled into a trust, and others will require probate if nothing is set up. Each is covered below.
- Beneficiary names, dates of birth, and Social Security numbers
- Percentage allocations if you name more than one beneficiary
- The exact trust name and date if the beneficiary is a trust (e.g., "The Smith Family Trust dated 01/01/2026")
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- A POD beneficiary is also called an In Trust For (ITF) beneficiary on Eastern deposit accounts -- same function, different label
- Eastern's Personal Deposit Account Agreement provides that on the account holder's death the beneficiary, or the beneficiary's legal representative, can withdraw the balance (https://www.easternbank.com/sites/default/files/2017-02/deposit_account_agreement_personal.pdf)
- A revocable living trust can be named as the POD/ITF beneficiary; give the branch the trust's exact name and date
- POD/ITF funds pass outside probate and outside your will -- the designation on file controls, so review it after a marriage, divorce, or death in the family
- To claim, a beneficiary presents a certified death certificate and government-issued ID
- Former HarborOne customers: beneficiary designations moved with the accounts in the February 2026 conversion, but they are now maintained on Eastern account records -- confirm them at an Eastern branch
Sources
Data sourced from Eastern primary sources (17 pages reviewed). How we research.
Download these Eastern instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Eastern primary sources. Bring it to the branch or keep it beside the phone.
Eastern Bank Customer Service Center
Eastern Bank, Customer Service Center, P.O. Box 391, Lynn, MA 01903-0491
Cambridge Trust Wealth Management, a Division of Eastern Bank (Trust & Estates)
Cambridge Trust Wealth Management, 125 High Street, Suite 901, Boston, MA 02110
Customer Service Center (deceased-account reporting and estate accounts)
Eastern Bank, Customer Service Center, P.O. Box 391, Lynn, MA 01903-0491
Estate planning articles
Learn how to protect your Eastern accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
New Baby or Adoption
Your family is growing. Your protection should too. Guardian nominations, trusts for minors, beneficiary updates, and the documents new parents need in place.
Learn more
Marriage
What married couples need in place: one joint trust or two, wills, beneficiary updates, and the spousal rights your state grants you automatically.
Learn more
New Home
How to put your house in a revocable trust: the deed you record, what it does to your mortgage and property taxes, and when a TOD deed is simpler.
Learn more
Retirement
Retirement changes your financial picture. Healthcare directives, beneficiary reviews, long-term care planning, and protecting what you've built.
Learn moreMore estate planning resources
Explore related tools and documents to complete your estate plan.
How Much Does Probate Cost?
Estimate attorney fees, executor fees, court costs, and timeline for probating an estate in your state. See if the estate qualifies for simplified probate procedures.
Who Inherits Without a Will?
Find out who inherits your estate and how much they get if you die without a will. Based on your state's intestate succession laws.
How Much Are Estate & Inheritance Taxes?
Calculate federal estate tax, state estate tax (12 states + DC), and inheritance tax (5 states) for an estate or trust.
What Does Estate Planning Actually Cost?
See the true cost of estate planning. Compare SimplyTrust, Trust & Will, LegalZoom, and attorneys including life events like marriage, divorce, and having children.
How Much Does a Revocable Living Trust Cost?
Compare the cost of creating a revocable living trust. See how SimplyTrust, Trust & Will, LegalZoom, and attorneys compare over 5 years including life events.
How Much Does a Will Cost?
Compare the cost of creating a will. See document costs plus probate fees your heirs will pay. Compare SimplyTrust, Trust & Will, LegalZoom, and attorneys.
