Estate planning options at Park National Bank
Preparing your Park National Bank 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.
The transfer rules at Park National Bank vary across 16 accounts. Below is a breakdown of beneficiary options, trust funding, and which products support each method.
No beneficiary form at Park National Bank
What Park National Bank says about beneficiaries and trusts
Each section is Park National Bank's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary1
- Payable-on-death account
A beneficiary of a revocable trust or payable-on-death account cannot withdraw until every person who created the account has died, and only if the beneficiary is then living.1
How many beneficiaries, and how shares are split
- All accounts
Two or more beneficiaries who survive everyone who created the account own it in equal shares, without survivorship between them.1
What Park National Bank's agreement says about beneficiaries4
- Changing or revoking a designation
The owners who created the account may change the beneficiaries, change the account type, or withdraw all or part of the funds at any time.1
- Joint accounts
Two or more owners who create a revocable trust or payable-on-death account own it jointly with survivorship. The beneficiaries take only after every owner has died.1
- The institution's right to refuse a designation or an account title
The bank may refuse some forms of ownership and beneficiary designation on any of its accounts, and makes no representation about their effect beyond deciding whom it pays.1
- Powers of attorney over a living owner's account
An agent may sign on the signature card or by a separate form such as a power of attorney. The power of attorney continues until the owner's death or the agent's.1
Which accounts a trust can hold1
- Trust account
Park's agreement lets the trustees named in a written trust agreement open and keep an account for the trust.1
What Park National Bank says about trust accounts1
- Review of the trust document
Holding the trust's account does not make Park a trustee of the trust. The bank does not check that the trustees follow the trust's terms and is not answerable for how they use the money.1
Accounts handled elsewhere1
- Trust Services
Trusts for which Park National Bank serves as trustee, co-trustee or agent, and directed trustee services2
Not in Park National Bank's published guidance8
- What the owner provides to name a beneficiary
- A beneficiary designation form
- An online way to name a beneficiary
- Who may be named as beneficiary
- What a designation takes to be effective
- Which trust documents it accepts
- A trust account form
- How long a change takes
Sources2
- 1.Terms and Conditions of Your Account (Retail), Rev. 10/2026
- 2.Trust Services
Sources
(4)·
Data sourced from Park National Bank primary sources (45 pages reviewed). How we research.
Download these Park National Bank instructions
A printable PDF with the steps, required documents, and contact details, verified against Park National Bank primary sources. Bring it to the branch or keep it beside the phone.
Park National Bank estate support
Trust & Investments
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