Estate planning options at Westamerica Bank
Preparing your Westamerica Bank accounts for estate transfer involves two primary strategies: designating beneficiaries on individual accounts and, where supported, retitling accounts into a revocable living trust. Both approaches bypass probate, but they work differently depending on the account type.
Westamerica Bank has 10 product types, and the estate transfer rules differ across them. Some support Payable on Death (POD) designations, some can be retitled into a trust, and others pass through the estate if nothing is set up. Each is covered below.
No beneficiary form at Westamerica Bank
- Name, address, date of birth and taxpayer identification number for each trustee opening the account
- A driver's license or other identifying documents, if asked
- A copy of the relevant pages of the trust agreement, or a signed trustee's certification of trust, if asked
Required Documents
- Relevant pages of the trust agreement or a trustee's certification of trust (if Westamerica asks). Either is taken: a copy of the relevant pages of the trust agreement, or a signed trustee's certification of trust
- Name, address, date of birth and taxpayer identification number (for each trustee opening the account)
- Driver's license or other identifying documents (for each trustee, if Westamerica asks)
- Taxpayer identification number for the account
What Westamerica Bank says about beneficiaries and trusts
Each section is Westamerica Bank's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary1
- Payable-on-death account
One or more owners may open a POD account. When all owners have died, the account belongs to the surviving POD payees.1
How many beneficiaries, and how shares are split
- All accounts
When more than one POD payee survives, the payees share equally unless the bank's records say otherwise.1
What Westamerica Bank's agreement says about beneficiaries2
Which accounts a trust can hold1
- Loan
The Extra Cash Overdraft Protection line of credit is not available to trust accounts.2
What Westamerica Bank says about trust accounts2
- Who signs for the trust
The Deposit Agreement counts the trustees of a trust as account owners; they sign the signature card, electronically or in writing.1
- Review of the trust document
For a formal trust account, Westamerica may ask for trust documents at opening and from time to time, and may restrict access to the account, such as withdrawals and deposits, until they are provided.1
Accounts handled elsewhere2
- Westamerica Bank Investment Management and Trust Services
Trust services, from appointment as a custodial agent to full management as trustee3, 4
Phone: 1-916-449-8336
Toll-free: 1-800-359-7562
- LPL Financial
Securities and advisory services offered in Westamerica branches5
Not in Westamerica Bank's published guidance4
- What the owner provides to name a beneficiary
- A beneficiary designation form
- A beneficiary designation procedure
- An online deposit account application
Sources5
Sources
Data sourced from Westamerica Bank primary sources (8 pages reviewed). How we research.
Download these Westamerica Bank instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Westamerica Bank primary sources. Bring it to the branch or keep it beside the phone.
Westamerica Bank estate support
Investment Management and Trust Services (Westamerica Bank)
Phone
Toll-free
Mailing address
Website
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