How to name beneficiaries and fund a trust at Rockland Trust
Covers 8 deposit, 1 retirement, and 2 lending accounts — beneficiaries must be updated in-branch
Customer Information Center
Rockland Trust, 288 Union Street, Rockland, MA 02370
Rockland Trust Investment Management Group (estate settlement, professional probate administration, personal representative of estates, trustee / co-trustee / agent for trustee)
Rockland Trust, 288 Union Street, Rockland, MA 02370
Customer Information Center / Deposit Services
Rockland Trust, ATTN: Deposit Services, 288 Union Street, Rockland, MA 02370
There are two ways to keep your Rockland Trust 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, Rockland Trust 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.
- One or two account owners (each called a "Trustee" on the account) may hold the account in trust for one or more beneficiaries
- Give each beneficiary's full legal name, and be prepared to provide date of birth and Social Security number
- Confirm with the banker whether the account will be titled for one beneficiary or several — on the death of the trustee (or of both trustees), the agreement gives the funds in equal shares to the then-living named beneficiaries, so unequal splits are not accomplished by this designation
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- No public payable-on-death or beneficiary form exists. Rockland Trust's published personal-banking materials show no downloadable POD/beneficiary PDF; the designation is made on the deposit account paperwork in a branch.
- Rockland Trust's deposit agreement frames the death-beneficiary account as an unwritten ("Totten") trust deposit account, not a "POD" account. Ask for it by that name if a banker does not recognize "POD."
- A Totten-trust account may name only one or two account owners as trustees on the account.
- On the death of the trustee (or of both trustees), the funds are owned in EQUAL shares by the then-living named beneficiaries. The agreement does not provide for unequal percentage splits — if you need unequal shares, use a written trust or separate accounts.
- Rockland Trust states it has no obligation to notify any beneficiary of the existence of an account. Tell your beneficiaries the account exists.
- Money in a Totten-trust account is not inherited by your heirs and is not controlled by your will.
- IRA CD beneficiary designations are separate from deposit-account designations and are completed on the IRA paperwork.
Sources
Data sourced from Rockland Trust primary sources (15 pages reviewed). How we research.
Download these Rockland Trust instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Rockland Trust primary sources. Bring it to the branch or keep it beside the phone.
Customer Information Center
Rockland Trust, 288 Union Street, Rockland, MA 02370
Rockland Trust Investment Management Group (estate settlement, professional probate administration, personal representative of estates, trustee / co-trustee / agent for trustee)
Rockland Trust, 288 Union Street, Rockland, MA 02370
Customer Information Center / Deposit Services
Rockland Trust, ATTN: Deposit Services, 288 Union Street, Rockland, MA 02370
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