Estate planning options at Shore United Bank
Estate planning for your Shore United Bank accounts starts with understanding how each one transfers at death. Beneficiary designations bypass probate, but the right approach depends on the account type, your tax situation, and how much control you want over distributions.
Shore United Bank offers 19 accounts, each with its own transfer rules. The sections below cover how to set up beneficiaries, fund a trust, and which products support each approach.
Contact Shore United Bank directly for information about adding or updating beneficiary designations on your accounts.
Why trust accounts are not available
Shore United Bank does not currently support retitling accounts into a trust. The alternative is to name a trust as the Transfer on Death beneficiary, which provides similar probate-avoidance benefits while keeping the account in the individual's name.
Simply Checking
Student Checking
50+ Checking
Official checks and basic checks carry no charge on this account.
Premium Checking
Required for the Premium Money Market, which must have the same ownership as the checking account.
Regular Savings
Money Market
Premium Money Market
Pays a tiered rate tied to the Effective Federal Funds Rate, with a six-month premium rate when it is opened with money not already at the bank.
You Name It Savings
Closing the account before the annual payout costs $10.
Teen Savings
Kids' Club Savings
Certificates of Deposit
A withdrawal during the term costs 90 days of interest, apart from the one penalty-free withdrawal on the 7- and 15-month terms. Certificates are opened at a branch.
Wye Trust
A division of Shore United Bank offering trust administration, corporate trustee services, wealth management and custody of securities.
Wye Financial Partners
Investment and insurance services offered through the broker-dealer LPL Financial.
Individual Retirement Accounts (Traditional, Roth, SEP)
IRAs are opened at a branch.
Education IRA
An account a parent or guardian funds for a child under 18 to pay education expenses such as books and tuition.
What Shore United Bank says about trust accounts
Each section is Shore United Bank's own statement, with the document it comes from numbered under Sources.
What Shore United Bank says about trust accounts1
Accounts handled elsewhere1
- Wye Trust
Trust administration and corporate trustee services, as a division of the bank3
Phone: 1-410-763-8543
Not in Shore United Bank's published guidance10
- 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
- How shares are split among beneficiaries
- What a designation takes to be effective
- Terms in its agreements for a beneficiary designation
- Which trust documents it accepts
- A trust account form
- How long a change takes
Sources
(2)·
Data sourced from Shore United Bank primary sources (40 pages reviewed). How we research.
Download these Shore United Bank instructions
A printable PDF with the steps, required documents, and contact details, verified against Shore United Bank primary sources. Bring it to the branch or keep it beside the phone.
Shore United Bank estate support
Wye Trust
Estate planning articles
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Learn moreForms for Planning Your Estate
Free forms for planning your estate: will, living trust, pour-over will, powers of attorney and TOD deed. Prepare each form for your state and download the PDF.
Revocable Living Trust
Create a revocable living trust to avoid probate, protect privacy, and control asset distribution.
Last Will and Testament
Name your heirs, guardians, and final wishes. Free for every state.
Codicil to a Will
Add, revoke or replace provisions of your will and republish the rest, signed as your state requires for a will.
Tools for Planning Your Estate
Free tools for planning your estate: will and trust costs, trust or TOD deed, and the signing rules. Run each tool for your state and read its answer.
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Do I Need a Revocable Trust?
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Trust or Will: Which Costs Less?
Compare the cost of probate vs a trust for your state and estate value.
How Much Is the Federal Gift Tax?
Whether a gift owes federal gift tax, how much of the annual exclusion and lifetime exemption it uses, and whether Form 709 is due.
What Does Estate Planning Actually Cost?
Compare costs across estate planning providers including online services and attorneys.
