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
Phone1-800-327-8376
WebsiteLearn more→
Cambridge Trust Wealth Management, a Division of Eastern Bank
Phone1-866-602-1522
Private Banking
WebsiteLearn more→
Customer Service / Estate Settlement
Phone1-800-327-8376
Toll-Free1-800-327-8376
Mailing Address
Eastern Bank, Customer Service Center, P.O. Box 4071, Wakefield, MA 01880-5371
Cambridge Trust Wealth Management (Estate Settlement)
Verified Apr 2026
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.
Eastern Free CheckingEastern eZ CheckingEastern Premier CheckingEastern SavingsPrime Liquid AssetsPremier Money MarketEastern Certificate of Deposit
1
Visit an Eastern Bank branch location with government-issued ID
2
Request to add a POD (Payable on Death) or ITF (In Trust For) beneficiary designation
3
Complete the beneficiary designation form:
- Enter beneficiary names, dates of birth, and Social Security numbers
- Specify percentage allocations if naming multiple beneficiaries
4
Review 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
Phone1-800-327-8376
WebsiteLearn more→
Cambridge Trust Wealth Management, a Division of Eastern Bank
Phone1-866-602-1522
Private Banking
WebsiteLearn more→
Customer Service / Estate Settlement
Phone1-800-327-8376
Toll-Free1-800-327-8376
Mailing Address
Eastern Bank, Customer Service Center, P.O. Box 4071, Wakefield, MA 01880-5371
Cambridge Trust Wealth Management (Estate Settlement)
Verified Apr 2026
Estate planning articles
Learn how to protect your Eastern accounts and other assets with trusts, beneficiary designations, and estate planning documents.
