Estate planning at SoFi
How to protect 11 SoFi accounts — manage beneficiaries online, and file death claims
Death Claims
SoFi Bank, N.A., 2750 E Cottonwood Parkway, Suite 300, Cottonwood Heights, UT 84121
SoFi offers 11 consumer accounts that interact with estate planning in distinct ways. Understanding the transfer methods available for each account type helps families keep assets out of probate and ensure they pass to the right people.
Account holders can update their beneficiary designations at SoFi online and by phone.
SoFi has documented procedures for both preparing accounts during your lifetime and handling claims when an account holder passes away.
Preparing your estate
Beneficiaries and trust funding
How to manage beneficiaries online, and review 11 account types at SoFi.
View details →When someone dies
Death claim process
5-step process, 4 required documents, and contact information for survivors.
View details →Frequently asked questions
No. The SoFi Bank Deposit Account Agreement (effective June 23, 2026) provides that an account "may not be owned or titled in the name of a company, fiduciary, estate, organization, or other legal entity." A SoFi account may be held only individually by one person or jointly by two people. You cannot retitle a SoFi account into a revocable living trust, and an executor cannot open an estate account at SoFi. Use POD (deposit) or TOD (brokerage) beneficiary designations for a probate-free transfer, or hold trust and estate accounts at an institution that permits fiduciary titling.
No. SoFi states that it "cannot accommodate trusts, minors, or non-U.S. citizens as beneficiaries at this time." POD beneficiaries on Checking and Savings and TOD beneficiaries on brokerage accounts must be individuals who are U.S. citizens or residents over 18. If your estate plan relies on a trust receiving these assets, name the trust as beneficiary at an institution that permits it, or fund the trust with assets held elsewhere.
You can add up to 5 primary and 5 secondary beneficiaries to your SoFi Checking and Savings accounts, set up online under the Banking tab via the gear icon and "Beneficiaries." Balances are split evenly among the living primary beneficiaries; secondary beneficiaries receive funds only if no primary beneficiary survives. Custom percentage allocations are not available.
Sources
Data sourced from SoFi primary sources (20 pages reviewed). How we research.
Death Claims
SoFi Bank, N.A., 2750 E Cottonwood Parkway, Suite 300, Cottonwood Heights, UT 84121
Estate planning articles
Learn how to protect your SoFi accounts and other assets with trusts, beneficiary designations, and estate planning documents.
