Estate planning options at WSFS Bank
Estate planning for your WSFS Bank accounts starts with understanding how each one transfers at death. Beneficiary designations and trust retitling both bypass probate, but the right approach depends on the account type, your tax situation, and how much control you want over distributions.
WSFS Bank offers 9 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.
Required Documents
- Written direction naming or changing the P.O.D. payees
Required Documents
- Copy of the trust agreement (if WSFS asks). WSFS names the trust agreement as the trust document
- Any other form WSFS requires to open or change the account
- Name, address and date of birth (for each person opening the account)
- Driver's license or other identifying documents (if WSFS asks)
Beneficiary designation is not available for investment accounts at WSFS Bank.
Required Documents
- Written direction naming or changing the P.O.D. payees
What WSFS Bank says about beneficiaries and trusts
Each section is WSFS Bank's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary1
- Payable-on-death account
When the account holder dies, or on a joint account when all account holders die, the account is owned by the P.O.D. payees or beneficiaries.1
How many beneficiaries, and how shares are split
- All accounts
If more than one P.O.D. payee survives the last account owner, each takes an equal share unless WSFS account records state otherwise and as allowed by applicable state law.1
What WSFS Bank's agreement says about beneficiaries3
- Changing or revoking a designation
An account owner may change the P.O.D. payees or beneficiaries by written direction to WSFS.1
- What the owner keeps while living
The account owner may withdraw money from the account.1
- No beneficiary survives
If no P.O.D. payee or beneficiary survives the last owner, state law determines who owns the funds in the account.1
Which accounts a trust can hold1
- Trust account
A Formal Trust Account is held by one or more trustees for the benefit of one or more beneficiaries according to a written trust agreement.1
What WSFS Bank says about trust accounts3
- Review of the trust document
WSFS acts only as a depository of the funds in a Formal Trust Account and has no obligation to act as trustee or to look into the trustee's powers or duties.1
- Claims against the account
WSFS's right of setoff does not reach Trust Accounts.1
- Indemnity the owner or a trustee gives
The trustees and anyone opening a Formal Trust Account agree to indemnify WSFS against claims by a beneficiary or another trustee about the trustee's actions.1
Accounts handled elsewhere1
- Bryn Mawr Trust
Trust administration, as a division of WSFS Bank2
Sources2
- 1.Relationship Reference Guide, Effective July 1, 2025
- 2.Bryn Mawr Trust trust and estate services
Sources
Data sourced from WSFS Bank primary sources (20 pages reviewed). How we research.
Download these WSFS Bank instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against WSFS Bank primary sources. Bring it to the branch or keep it beside the phone.
WSFS Bank estate support
Customer Service
Phone
Online & Mobile Banking
Student Lending
Hours
Website
Estate requests go through general customer service.
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