How to name beneficiaries and fund a trust at Enterprise Bank
Beneficiaries are managed in branch or by phone. Trust paperwork is taken in branch
Enterprise Bank merged into Rockland TrustMerged, effective July 2025
Enterprise Bancorp, Inc. merged into Independent Bank Corp. and Enterprise Bank and Trust Company merged into Rockland Trust Company, with Rockland Trust the surviving bank, at a legal closing effective July 1, 2025. Independent Bank Corp.'s own deal-close release (SEC EX-99.1, and republished on rocklandtrust.com) states: "The legal closing was effective July 1, 2025 and resulted in Enterprise merging with and into Independent, with Independent as the surviving entity, and Enterprise Bank merging with and into Rockland Trust, with Rockland Trust as the surviving entity." The FDIC confirms it independently: cert 27408 (Enterprise Bank and Trust Company, Lowell MA) now shows ACTIVE=0 with an end date of 07/01/2025, and its history record carries change code 223, "Merger - Without Assistance," effective 2025-07-01, acquiring cert 9712 (Rockland Trust Company). Customer accounts converted the weekend of October 11 and transitioned to Rockland Trust on Tuesday, October 14, 2025; all former Enterprise Bank branches now operate as Rockland Trust locations and the routing number is 011304478. The Enterprise Bank brand no longer operates and ebtc.com no longer resolves to any web server. Existing beneficiary designations on trust deposit accounts, IRA beneficiary designations, and trust account titling remain in effect, and a death claim on a former Enterprise Bank account is handled by Rockland Trust today: call the Customer Information Center at 508.732.7072 or write to Rockland Trust, ATTN: Deposit Services, 288 Union Street, Rockland, MA 02370.
The key to protecting your Enterprise Bank 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.
With 10 product types, Enterprise Bank 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.
Beneficiary form at Enterprise Bank
Deposit account signature card and Unwritten ("Totten") Trust Deposit Account documentation (for payable-on-death accounts) and IRA beneficiary designation (for IRAs).
- One or two owners may be named as trustee on this account type
- Provide each beneficiary's full legal name, date of birth, Social Security number and relationship
- Ask what the branch requires to record a contingent beneficiary
- Hours: weekdays 7:00 a.m. to 8:00 p.m.; Saturday 8:00 a.m. to 5:00 p.m.; Sunday 10:00 a.m. to 3:00 p.m.
- Ask which beneficiary arrangement applies to the specific account type you hold
Required Documents
- Beneficiary's full legal name
- Beneficiary's date of birth
- Beneficiary's Social Security number
- Beneficiary's relationship to the account owner
- Certification of trust and each beneficiary's name and address (for a Written Trust Agreement account, where the bank requires them). All of the beneficiaries must be natural persons
- Valid government-issued photo ID (at a branch)
- Certification of trust (the Agreement's own term) or the complete trust agreement
- The name and address of each beneficiary, all of whom must be natural persons on a Written Trust Agreement deposit account
- Government-issued photo ID for all trustees
- The trust's tax identification number (SSN for revocable living trusts; EIN for irrevocable trusts)
- A banker reviews the trust documentation and verifies trustee authority
- Complete new signature cards under the trust name
- The bank retitles your accounts to trust ownership (for example, "John Smith, Trustee of the Smith Family Revocable Trust dated [date]")
Required Documents
- Certification of trust or the complete trust agreement. Either a certification of trust (Certificate of Trust) or the complete trust agreement is accepted
- Name and address of each beneficiary (for a Written Trust Agreement deposit account). All of the beneficiaries must be natural persons
- Government-issued photo ID (for all trustees)
- Trust tax identification number. A Social Security number for a revocable living trust; an EIN for an irrevocable trust
- New signature cards under the trust name
- One or two owners may be named as trustee on this account type
- Provide each beneficiary's full legal name, date of birth, Social Security number and relationship
- Ask what the branch requires to record a contingent beneficiary
- Hours: weekdays 7:00 a.m. to 8:00 p.m.; Saturday 8:00 a.m. to 5:00 p.m.; Sunday 10:00 a.m. to 3:00 p.m.
- Ask which beneficiary arrangement applies to the specific account type you hold
Required Documents
- Beneficiary's full legal name
- Beneficiary's date of birth
- Beneficiary's Social Security number
- Beneficiary's relationship to the account owner
- Certification of trust and each beneficiary's name and address (for a Written Trust Agreement account, where the bank requires them). All of the beneficiaries must be natural persons
- Valid government-issued photo ID (at a branch)
What Enterprise Bank says about beneficiaries and trusts
Each section is Enterprise Bank's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary3
- Payable-on-death account
The death-payable deposit account is the Unwritten ("Totten") Trust Deposit Account: "You own the deposit account, but you name a beneficiary who receives the money in the deposit account when you die."1
- Joint account with survivorship
Joint deposit accounts are offered only with right of survivorship, never as tenants in common.1
- IRA
An IRA beneficiary is recorded on the retirement account through a separate IRA beneficiary designation, not through a trust deposit account.2
Who can be named4
- A person, trust accounts
On a Written Trust Agreement deposit account, every beneficiary must be a natural person.1
- A charity or nonprofit, trust accounts
A trust whose deposit-account beneficiaries are charities can be refused a Written Trust Agreement account, because every beneficiary must be a natural person.1
- A business, trust accounts
A trust whose deposit-account beneficiaries are entities can be refused a Written Trust Agreement account, because every beneficiary must be a natural person.1
- A trust, IRAs
A trust may be named as an IRA beneficiary.2
How many beneficiaries, and how shares are split
- Payable-on-death account
On the death of the trustee, or of both trustees, the funds "shall be owned in EQUAL SHARES by the person(s) then living who is/are named as Beneficiary(ies)" or their legal representatives, not by percentage allocation.1
Beneficiary forms Enterprise Bank issues2
- Deposit account signature card and Unwritten ("Totten") Trust Deposit Account documentation
For payable-on-death accounts. Provided at a branch.2
- IRA beneficiary designation
For IRAs. Provided at a branch.2
What Enterprise Bank's agreement says about beneficiaries5
- A designation and a will
The money in an Unwritten ("Totten") Trust Deposit Account "will not be inherited by your heirs or controlled by your will."1
- What the owner keeps while living
Named beneficiaries have no interest in the account and may not access it or its funds until the depositor's death. The owner may change or remove them, close the account or withdraw the funds at any time.1
- Who can see the designation
Rockland Trust has no obligation to notify any beneficiary of the existence of an account or of the vesting of any interest in it.1
- Joint accounts
Any one joint owner may withdraw all the funds at any time without the other owners' permission.1
- Accounts from a merged institution
Existing Enterprise Bank designations remained in effect through the Rockland Trust transition.2
Which accounts a trust can hold2
- Trust account
A trustee of a formal written trust may be allowed to open a Written Trust Agreement Deposit Account: "From time to time, we may allow a Trustee of a formal written trust to open a trust account." Acceptance is at the bank's discretion.1
- IRA
An IRA cannot be retitled to a trust.2
What Enterprise Bank says about trust accounts3
- Review of the trust document
Opening the account holds the bank harmless for actions taken in reliance on the certification of trust.1
- Who signs for the trust
Rockland Trust is "under no obligation and ha[s] no duty to monitor the acts of any Trustee" and will not be liable if a trustee exceeds their powers.1
- Accounts from a merged institution
Existing Enterprise Bank trust accounts transitioned to Rockland Trust on October 14, 2025, with trust titling and trustee authority preserved.2
Accounts handled elsewhere1
- Rockland Trust Investment Management Group
Fuller trust administration, including corporate trustee and estate settlement work3
Not in Enterprise Bank's published guidance1
- A beneficiary form to download
Sources3
- 1.Personal Deposit Account Agreement
- 2.Rockland Trust branch account guidance
- 3.Rockland Trust Investment Management Group
Sources
Data sourced from Enterprise Bank primary sources (18 pages reviewed). How we research.
Download these Enterprise Bank instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Enterprise Bank primary sources. Bring it to the branch or keep it beside the phone.
Enterprise Bank estate support
Rockland Trust Investment Management Group (estate settlement, trust termination, and professional Personal Representative services; offices include Lowell MA and Nashua NH in the former Enterprise Bank footprint)
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Hours
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