Estate planning options at FirstBank
Covers 3 deposit, and 1 retirement accounts at FirstBank
FirstLine Solutions Center
FirstBank Puerto Rico, PO Box 9146, San Juan, PR 00908-0146
FirstLine Solutions Center
FirstBank Puerto Rico, PO Box 9146, San Juan, PR 00908-0146
FirstLine Solutions Center
FirstBank Puerto Rico, PO Box 9146, San Juan, PR 00908-0146
There are two ways to keep your FirstBank accounts out of probate: adding beneficiary designations and structuring ownership to align with your estate plan. Which approach works best depends on the account type and your overall estate plan.
FirstBank has 4 accounts with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
Contact FirstBank directly for information about adding or updating beneficiary designations on your accounts.
Why trust accounts are not available
FirstBank does not currently support retitling accounts into a trust. The alternative is to name a trust as the Transfer on Death beneficiary, which provides similar probate-avoidance benefits while keeping the account in the individual's name.
Checking Account (incl. Cuenta Todo)
Sole accounts pass through Puerto Rico succession (Declaration of Heirs); joint accounts may pass to the surviving co-owner.
Savings Account
Certificate of Deposit
Sources
Data sourced from FirstBank primary sources (8 pages reviewed). How we research.
FirstLine Solutions Center
FirstBank Puerto Rico, PO Box 9146, San Juan, PR 00908-0146
FirstLine Solutions Center
FirstBank Puerto Rico, PO Box 9146, San Juan, PR 00908-0146
FirstLine Solutions Center
FirstBank Puerto Rico, PO Box 9146, San Juan, PR 00908-0146
Estate planning articles
Learn how to protect your FirstBank accounts and other assets with trusts, beneficiary designations, and estate planning documents.
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