How to name beneficiaries and fund a trust at Eastern

On Eastern deposit accounts a POD beneficiary is also called an In Trust For (ITF) beneficiary. The two labels serve the same function.¹

A POD/ITF designation is a signature-card change. Eastern Mobile & Online Banking cannot make it.²

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.³

An Eastern IRA beneficiary is updated separately from a deposit account designation. The IRA plan agreement carries its own beneficiary form.¹

A revocable living trust can be named as the POD/ITF beneficiary. Give the branch the trust's exact name and date.¹

A trust can be named as the IRA beneficiary.¹

When more than one beneficiary is named, the owner gives percentage allocations.¹

The owner completes and signs the designation at a branch. Eastern records beneficiary designations on signed account records.¹

Completed by the account owner, with a branch representative. Provided at a branch.¹

For IRAs. Sent by the institution on request.¹

POD/ITF funds pass outside probate and outside your will. The designation on file, recorded on Eastern's account records, controls.¹

Beneficiary designations on former HarborOne accounts moved with the accounts in the February 2026 conversion and are now maintained on Eastern account records.¹

An IRA cannot be retitled to a trust.¹

Completed by the trustees, at the branch. Provided at a branch.¹

A trust-titled deposit account can be opened, or existing checking, savings, money market or CD accounts retitled into the trust, in the trust's name.¹

A retitled account keeps its account number in most cases, but the signature card changes.¹

Eastern does not retitle deposit accounts to a trust online; the retitling is completed in person.¹

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