What happens to your Greenwood accounts when you die
No beneficiary or trust option on any account, so they pass through the estate
Greenwood does not currently support beneficiary designations, transfer-on-death registrations, or trust account titling on any account type. All Greenwood accounts pass through the estate at death and may require probate.
When an account holder dies, the executor or administrator will need to contact Greenwood with a death certificate and legal authority documents to claim account balances. The process and required documents are covered on the death claim page.
Beneficiary form at Greenwood
Transfer on Death Beneficiary Designation form (DriveWealth, LLC) (for investment accounts).
Greenwood does not currently support beneficiary designations (POD or TOD) on any account type. All accounts transfer through the estate at death and may require probate.
Why trust accounts are not available
Greenwood does not support retitling accounts into a trust, naming a trust as beneficiary, or any other probate-avoidance mechanism. Account balances transfer through the estate at death.
Greenwood Spending Account
Greenwood Savings Account
Interest-bearing savings account paired with the spending account, with unlimited transfers between the two. Held at Coastal Community Bank, Member FDIC, and covered up to $250,000 per depositor through pass-through insurance. Same ownership limits as the spending account: individual only, no POD beneficiary and no trust titling offered through Greenwood, so the balance passes through the estate.
Greenwood Investment Account
What Greenwood says about beneficiaries
Each section is Greenwood's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary4
- Investment account
DriveWealth, the brokerage custodian, supports Transfer on Death designations through its own form.1
- Joint account with survivorship
Greenwood accounts are individual "Personal Accounts" for natural persons only, with no joint ownership.2
- Business account
Greenwood accounts are individual "Personal Accounts" for natural persons only, with no business or entity ownership.2
- Trust account
Greenwood defines its accounts as "Personal Accounts ... in the names of natural persons (individuals)" and prohibits business use; the app offers no joint, entity, or trust ownership. DriveWealth opens trust accounts for introducing firms that offer them (section 15.7), and Greenwood is not one of them.2, 1
Beneficiary forms Greenwood issues1
- Transfer on Death Beneficiary Designation form (DriveWealth, LLC)
For investment accounts. Sent by the institution on request.1
Accounts handled elsewhere1
- Coastal Community Bank
Issuing bank for Greenwood spending and savings deposits3
Not in Greenwood's published guidance3
- What the owner provides to name a beneficiary
- An online way to name a beneficiary
- A POD designation on spending and savings accounts
Sources3
- 1.DriveWealth Customer Account Agreement
- 2.Greenwood Inc. Account Terms & Conditions, effective July 7, 2025
- 3.Greenwood investor disclosures
Sources
- gogreenwood.com
- legal.drivewealth.com
- banks.data.fdic.gov
- coastalbank.com
- reports.adviserinfo.sec.gov
- secure.gogreenwood.com
Data sourced from Greenwood primary sources (13 pages reviewed). How we research.
Download these Greenwood instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Greenwood primary sources. Bring it to the branch or keep it beside the phone.
Greenwood estate support
Greenwood Community Support
Phone
Hours
Mailing address
Website
Estate requests go through general customer service.
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