How to designate beneficiaries at Washington Trust

A beneficiary can be added to a personal checking or savings account.¹

A beneficiary can be added to a CD.¹

The beneficiary form takes an entity as beneficiary, with the entity's name and EIN.²

Any account owner can add a beneficiary.¹

The account owner signs and dates the form and supplies the owner's Social Security number.²

Completed by any account owner. Available to download.^{2, 1}

At the owner's death, a payable-on-death account passes to the designated beneficiaries and is not part of the owner's estate.³

Washington Trust's multiple-party accounts are held as joint tenancy with right of survivorship.³

If Washington Trust cannot locate a beneficiary after the owner's death, it keeps the funds in a separate account in the beneficiary's name until the beneficiary claims them or until escheatment, whichever comes first.²

Under the Consumer Terms and Conditions, an account may be opened and maintained by a person named as trustee under a written trust agreement.³

By opening the account, Washington Trust does not act as trustee and does not monitor or enforce the trust's terms.³

The online account-opening application offers no trust ownership type, so a trust account is not opened online.⁴

Freedom Checking carries no monthly maintenance fee when the account is under the name of a trust.⁵

Full trust services⁶