Estate planning options at OceanFirst

A beneficiary can be added when a personal checking, savings or money market account is opened online.¹

A beneficiary can be added when a CD is opened online.¹

OceanFirst reserves the right to refuse some forms of ownership and beneficiary designations on any of its accounts.²

At a New Jersey branch, ownership of a P.O.D. or revocable trust account cannot be changed by will. The people who created the account keep the right to change beneficiaries or P.O.D. payees, change the account type, and withdraw funds at any time.²

At a New Jersey branch, beneficiaries or P.O.D. payees cannot withdraw unless all parties who created the account have died and the beneficiary or payee is then living. Two or more who survive all the parties own the account in equal shares, without right of survivorship.²

At a New York branch, beneficiaries of a revocable trust account cannot withdraw unless all parties who created the account have died and the beneficiary is then living. Two or more who survive all the parties own the account in equal shares.²

Under OceanFirst's Terms and Conditions, an account "may be opened and maintained by a person or persons named as a trustee under a written trust agreement."²

By opening such an account, OceanFirst is not acting as trustee and does not undertake to monitor or enforce the terms of the trust.²

OceanFirst's online application offers only consumer and business customer types, with no trust product.¹

At a New Jersey branch, OceanFirst's right of setoff against a due and payable debt an account holder owes it does not apply where "the debtor's right of withdrawal only arises in a representative capacity."²

Acting as trustee or co-trustee of revocable, irrevocable, testamentary, special needs and charitable remainder trusts³