Estate planning options at Servbank
A loan serviced by Servbank is a liability of the estate, not an asset to designate. The most useful preparation is organizing the account details so the executor can act quickly: the account number, current statements, and where the balance sits. Survivors typically cannot handle the loan until they have legal authority over the estate.
Servbank offers 5 mortgage loans, each with its own transfer rules. The sections below cover how to set up beneficiaries, fund a trust, and which products support each approach.
No beneficiary form at Servbank
What Servbank says about beneficiaries
Each section is Servbank's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary1
- Payable-on-death account
Servbank offers Pay-On-Death and Revocable Trust accounts among the ownership forms of its personal deposit accounts.1
Unless prohibited by law, Servbank reserves the right to refuse some forms of ownership and beneficiary designations on any of its accounts. It makes no representation about their effect except as they determine to whom it pays the account funds.1
How many beneficiaries, and how shares are split
- All accounts
Two or more beneficiaries who survive the owner take the account in equal shares, without right of survivorship between them.1
What Servbank's agreement says about beneficiaries4
- What the owner keeps while living
The owner of a Pay-On-Death or Revocable Trust account may change beneficiaries, change account types, and withdraw all or part of the funds at any time.1
- A beneficiary who dies first
A beneficiary cannot withdraw until every person who created the account has died, and only if the beneficiary is then living.1
- Joint accounts
When two or more people create a Pay-On-Death or Revocable Trust account, they own it jointly with survivorship.1
- Claims against the account
Servbank may place an administrative hold on an account that becomes subject to a claim by people claiming an interest as survivors or beneficiaries. The hold lasts until a legal proceeding resolves the claim or Servbank receives satisfactory evidence that the dispute is resolved.1
Not in Servbank's published guidance3
- A beneficiary designation form
- An online way to name a beneficiary
- What the owner provides to name a beneficiary
Sources1
- 1.Terms and Conditions, v.1.0 rev.07.08.2025
Sources
Data sourced from Servbank primary sources (13 pages reviewed). How we research.
Download these Servbank instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Servbank primary sources. Bring it to the branch or keep it beside the phone.
Servbank estate support
Servbank Homeowner Care
Phone
Banking Customer Care
Personal Banking / Banking Operations (deposit accounts)
Hours
Mailing address
Website
Estate requests go through general customer service.
Estate planning articles
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