How to name beneficiaries and fund a trust at HomeStreet
Covers 8 deposit, 1 retirement, and 2 lending accounts — beneficiaries must be updated in-branch
Brand change
HomeStreet Bank merged into Mechanics Bank on September 2, 2025. Deposit accounts and online banking converted to Mechanics Bank systems on March 23, 2026 (account numbers unchanged; new routing number 121102036), and legacy HomeStreet mortgage servicing moved to the Mechanics Bank Check My Loan platform in mid-2026 with reissued loan numbers. homestreet.com redirects to mechanicsbank.com. Former HomeStreet client support: 800-719-8080. Mechanics Bank Customer Care: 800-797-6324. Mortgage servicing: 800-237-3194. Effective September 2025.
HomeStreet is now part of Mechanics Bank. The procedures below reflect HomeStreet's accounts during the transition. View the Mechanics Bank estate planning page.
HomeStreet
Subsidiary of Mechanics Bancorp (HomeStreet Bank merged into Mechanics Bank, 2025-09-02)
homestreet.com→
Mechanics Bank Customer Care (former HomeStreet client support: 800-719-8080)
Mechanics Bank, PO Box 8070, Walnut Creek, CA 94596
Mechanics Bank Wealth Management - Trust and Estate Services (trustee, executor / co-executor, agency; Delaware trust services)
Mechanics Bank, PO Box 8070, Walnut Creek, CA 94596
Mechanics Bank Customer Care (deposit death claims, completed at a banking center or by mail; mortgage death claims go to Loan Servicing at 800-237-3194)
Mechanics Bank, PO Box 8070, Walnut Creek, CA 94596
There are two ways to keep your HomeStreet accounts out of probate: adding beneficiary designations and retitling eligible accounts into a revocable living trust. Which approach works best depends on the account type and your overall estate plan.
Across 11 product types, HomeStreet accounts vary in how they transfer at death. The sections below walk through Payable on Death (POD) designations, trust funding options, and which products support each method.
- Payable on Death (P.O.D.): you keep full control during life; at the death of the last surviving owner the funds pass to the surviving named beneficiaries, in equal shares unless you instruct the bank otherwise in writing
- Totten Trust ("in trust for" / ITF): an informal trust account with no written trust agreement; when all owners have died the surviving named beneficiaries own it
- Joint Account: passes to the survivor(s) on the death of any owner
- Community Property Account (married couples and registered domestic partners in WA and CA): ownership during life and after death is determined by community property law and may be affected by a will
- Tenancy in Common: the deceased owner's share goes to that owner's estate, not to the co-owner
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Washington and California are community property states. A P.O.D. designation naming someone other than the spouse can be challenged by the surviving spouse to the extent the funds are community property -- the account agreement itself says community property ownership is determined by community property law and may be affected by a will.
- IRA beneficiary changes by a married owner in a community property state may require spousal consent; ask for the consent section on the IRA Beneficiary Designation form.
- A trust named as beneficiary generally requires a Certification of Trust.
- Keep beneficiary ADDRESSES current with the bank, not just names -- the agreement makes that the owner's responsibility.
- Absent written instructions, multiple P.O.D. or Totten Trust beneficiaries share equally; if you want unequal shares, say so in writing.
Sources
Data sourced from HomeStreet primary sources (15 pages reviewed). How we research.
Download these HomeStreet instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against HomeStreet primary sources. Bring it to the branch or keep it beside the phone.
HomeStreet
Subsidiary of Mechanics Bancorp (HomeStreet Bank merged into Mechanics Bank, 2025-09-02)
homestreet.com→Mechanics Bank Customer Care (former HomeStreet client support: 800-719-8080)
Mechanics Bank, PO Box 8070, Walnut Creek, CA 94596
Mechanics Bank Wealth Management - Trust and Estate Services (trustee, executor / co-executor, agency; Delaware trust services)
Mechanics Bank, PO Box 8070, Walnut Creek, CA 94596
Mechanics Bank Customer Care (deposit death claims, completed at a banking center or by mail; mortgage death claims go to Loan Servicing at 800-237-3194)
Mechanics Bank, PO Box 8070, Walnut Creek, CA 94596
Estate planning articles
Learn how to protect your HomeStreet accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
New Baby or Adoption
Your family is growing. Your protection should too. Guardian nominations, trusts for minors, beneficiary updates, and the documents new parents need in place.
Learn more
Marriage
What married couples need in place: one joint trust or two, wills, beneficiary updates, and the spousal rights your state grants you automatically.
Learn more
New Home
How to put your house in a revocable trust: the deed you record, what it does to your mortgage and property taxes, and when a TOD deed is simpler.
Learn more
Retirement
Retirement changes your financial picture. Healthcare directives, beneficiary reviews, long-term care planning, and protecting what you've built.
Learn moreMore estate planning resources
Explore related tools and documents to complete your estate plan.
How Much Does Probate Cost?
Estimate attorney fees, executor fees, court costs, and timeline for probating an estate in your state. See if the estate qualifies for simplified probate procedures.
Who Inherits Without a Will?
Find out who inherits your estate and how much they get if you die without a will. Based on your state's intestate succession laws.
How Much Are Estate & Inheritance Taxes?
Calculate federal estate tax, state estate tax (12 states + DC), and inheritance tax (5 states) for an estate or trust.
What Does Estate Planning Actually Cost?
See the true cost of estate planning. Compare SimplyTrust, Trust & Will, LegalZoom, and attorneys including life events like marriage, divorce, and having children.
How Much Does a Revocable Living Trust Cost?
Compare the cost of creating a revocable living trust. See how SimplyTrust, Trust & Will, LegalZoom, and attorneys compare over 5 years including life events.
How Much Does a Will Cost?
Compare the cost of creating a will. See document costs plus probate fees your heirs will pay. Compare SimplyTrust, Trust & Will, LegalZoom, and attorneys.
