Preparing your Northwest accounts for estate transfer involves two primary strategies: designating beneficiaries on individual accounts and, where supported, retitling accounts into a revocable living trust. Both approaches bypass probate, but they work differently depending on the account type.

With 17 product types, Northwest 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.

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1Visit your local Northwest Bank financial center with government-issued photo ID

2Request to add or update a POD (Payable on Death) beneficiary on your deposit account

3Provide beneficiary details: full name, relationship, and contact information

4Review and sign the beneficiary designation form with a banker

Required Documents

Trust name, date established, and tax ID (EIN or SSN)

Special Requirements

Beneficiary designations on deposit accounts are managed as Totten Trust (In Trust For) arrangements per the Deposit Account Agreement (revised 08/12/2024)
The account owner/trustee may change the beneficiary by written direction to the bank at any time during their lifetime
Beneficiaries have no rights to the funds during the account owner's lifetime
Named beneficiaries override your will
If there is no surviving beneficiary upon the death of the last trustee, state law determines ownership of the funds