How to designate beneficiaries at Marcus
Beneficiaries are managed online
There are two ways to keep your Marcus 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.
Each of Marcus's 4 accounts has different rules for how it transfers at death. The sections below explain the options for each.
- Beneficiary legal first and last name, with no nickname or alias
- Beneficiary date of birth
- Beneficiary Social Security Number or Individual Taxpayer Identification Number
- Beneficiary address
- Beneficiary phone number
Required Documents
- Beneficiary's legal first and last name (for each beneficiary). No nickname or alias. The Marcus FAQ names this as the most common cause of an error when saving a designation
- Beneficiary's date of birth (for each beneficiary)
- Beneficiary's Social Security Number or Individual Taxpayer Identification Number (for each beneficiary)
- Beneficiary's address (for each beneficiary)
- Beneficiary's phone number (for each beneficiary)
What Marcus says about beneficiaries
Each section is Marcus's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary3
- Payable-on-death account
Up to 6 POD beneficiaries can be named on an account. The designation is made in the account dashboard.1
- Trust account
Marcus offers accounts only to natural persons, for personal, family or household purposes. An account may not be opened in the name of a trust or other legal entity, or by a fiduciary such as an executor, conservator, guardian or trustee.2
An external account linked to Marcus may not be a trust account: the linking terms require an account in which the owner has full right and authority to the funds and that is not a trust account.2
Marcus does not offer trust or custodial accounts.3
- Custodial account (UTMA/UGMA)
Marcus does not offer trust or custodial accounts.3
Who can be named5
- A person
Beneficiaries must be natural persons who are U.S. citizens or legal permanent residents.1
- A trust
A trust or other legal entity cannot be named as a POD beneficiary, and Marcus may remove a POD designation that does not meet its requirements.2
- A charity or nonprofit
A charity cannot be named as a POD beneficiary.1
- The estate
An estate cannot be named as a POD beneficiary.1
- An entity other than a trust or a business
Another legal entity cannot be named as a POD beneficiary.1
How many beneficiaries, and how shares are split
- All accounts
Up to 6 beneficiaries per account, all taking equal shares. Custom percentages and contingent beneficiaries are not supported.1
What Marcus's agreement says about beneficiaries6
- Joint accounts
On a joint account, the POD beneficiaries receive the funds only on the death of the last surviving account owner, not the first.1
- A beneficiary who dies first
If a beneficiary dies before the last surviving owner, the funds are paid to the surviving beneficiaries.1
- No beneficiary survives
If every named beneficiary dies before the owner, the account falls into the estate.1
- Changing or revoking a designation
A POD beneficiary is added and removed in the account dashboard.3
- Which state governs the account
Marcus makes no representation as to whether a POD designation complies with any state law other than Utah or New York, and states that the customer is solely responsible for making sure the account meets applicable state requirements.1
- Powers of attorney over a living owner's account
An attorney-in-fact under a power of attorney may access an account once Marcus accepts the power of attorney. Marcus contacts the owner to confirm it, and may decline the power of attorney or close the account if it cannot reach the owner to confirm.1
Not in Marcus's published guidance2
- A beneficiary designation form
- A mail-in or representative-completed designation path
Sources3
- 1.Manage Beneficiaries
- 2.Deposit Account Agreement, effective June 27, 2025
- 3.Marcus FAQs
Sources
Data sourced from Marcus primary sources (15 pages reviewed). How we research.
Download these Marcus instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Marcus primary sources. Bring it to the branch or keep it beside the phone.
Marcus estate support
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