You can name a beneficiary on an Apple Savings Account through the Wallet app, but the process and options depend on which bank actually holds your account

Apple Savings Accounts are held and managed by partner banks — currently Goldman Sachs Bank USA — not by Apple itself. When you want to name a beneficiary (a person who inherits the account if you die), you are working with the bank's rules and systems, not Apple's. The steps you take and the forms you fill out come from the bank, even though you set it up through your iPhone.

The fastest way to start is to open the Wallet app, tap your savings account, scroll to Account Details, and look for a beneficiary or estate planning option. If you do not see one there, you will need to contact Goldman Sachs directly — either through the Wallet app's support chat or by phone — because the bank may require a separate form or may handle beneficiaries through a different channel than the app allows.

Naming a beneficiary does not transfer the account automatically or avoid probate in most states. It simply tells the bank who should receive the money after you die. The exact legal effect depends on your state and how the account is titled, so if you have a large balance or complex family situation, talking to a lawyer or your bank's trust department is worth the time.

Key Takeaways

  • Apple Savings Accounts are held by Goldman Sachs Bank USA, so beneficiary rules and forms come from the bank, not from Apple.
  • Start by checking the Account Details section in the Wallet app, where a beneficiary option may appear if the bank offers it through the app.
  • If you do not see a beneficiary option in the app, contact Goldman Sachs support through Wallet or by phone to ask whether they offer beneficiary designation and what form you need.
  • Naming a beneficiary does not automatically avoid probate or transfer the account outside the estate — the legal effect varies by state and account structure.
  • For accounts over a certain balance or if you have a will or trust already in place, consulting a lawyer before naming a beneficiary can prevent conflicts later.

Where to find the beneficiary option in the Wallet app

Open the Wallet app on your iPhone and tap the Apple Savings Account card. Scroll down to find a section labeled Account Details, Settings, or similar. Look for a link or button that says Beneficiary, Estate Planning, or In Case of Death. If you see it, tap it — this is where you can name someone directly through the app.

The exact wording and location can change with app updates, so if you do not find it in Account Details, try scrolling all the way to the bottom of the account screen or checking a menu (often three dots or lines in the corner). Some banks hide this option under a separate tab or require you to be logged into a specific view.

If you search the Wallet app and cannot find any beneficiary option after a few minutes, the bank may not offer this feature through the app yet. Move to contacting Goldman Sachs directly — do not assume the feature does not exist just because the app does not show it.

How to contact Goldman Sachs if the app does not show a beneficiary option

The Wallet app usually has a support or help section. Look for a question mark icon, a Support link, or a Chat option within your account screen. Tap it and ask whether Goldman Sachs offers beneficiary designation on Apple Savings Accounts and what the process is. The support team can tell you whether a form exists, whether it is available through the app, or whether you need to call or mail something in.

You can also call Goldman Sachs directly. The phone number should appear in the Wallet app under Account Details or Help, or you can search online for "Goldman Sachs Apple Savings customer service." When you call, have your account number ready and ask specifically about naming a beneficiary on your savings account. They will walk you through the options available to you.

If Goldman Sachs tells you they do not currently offer beneficiary designation through the app or by phone, ask whether you can name the account as part of your will or trust instead. Many banks allow this even if they do not have a formal beneficiary form.

What information you will need to provide

When you name a beneficiary, the bank will ask for the person's full legal name, date of birth, and relationship to you (spouse, child, parent, friend, etc.). Some banks also ask for a Social Security number or tax ID, especially if the beneficiary is not a family member. Have this information ready before you start the process, whether you are doing it through the app or over the phone.

You may also be asked whether you want to name one person or split the account among multiple beneficiaries (for example, 50 percent to your spouse and 25 percent each to two children). If you choose multiple beneficiaries, the bank will ask you to specify the percentage each person receives. Write this down before you contact them so you do not have to decide on the spot.

If you want to name a minor child as a beneficiary, the bank may require you to also name a guardian or custodian who will manage the money until the child reaches the age of majority (usually 18 or 21, depending on your state). Ask the bank about this requirement when you call.

The difference between a beneficiary and a will or trust

Naming a beneficiary on your savings account is not the same as writing a will or creating a trust. A beneficiary designation is a direct instruction to the bank: when you die, give this money to this person. It bypasses probate for that specific account, meaning the money can go to the beneficiary without going through the court system first.

A will, by contrast, is a legal document that names an executor (the person who carries out your wishes) and says what happens to all your property. If you name a beneficiary on your savings account but do not have a will, the rest of your property still goes through probate. If you have a will but do not name a beneficiary on the account, the account becomes part of your estate and is distributed according to the will.

A trust is a third option: you transfer ownership of the account to a trust during your lifetime, and the trust document says who gets the money after you die. Trusts are more complex and usually cost money to set up, but they can be useful if you have a lot of money, minor children, or a complicated family situation.

What happens if you do not name a beneficiary

If you die without naming a beneficiary on your Apple Savings Account, the money becomes part of your estate. This means it will be distributed according to your will (if you have one) or according to your state's intestacy laws (if you do not). Either way, the process goes through probate, which can take months or even years and costs money in court fees and attorney fees.

Your family will have to go to court to prove they are may have access to to the money, even if it seems obvious. This is why naming a beneficiary is often recommended — it is faster and cheaper for the people you leave behind.

If you have a small account and no dependents, this may not matter much. But if you have a significant balance or people who depend on you financially, naming a beneficiary is a straightforward step that saves your family time and stress.

Changing or removing a beneficiary later

You can change your beneficiary at any time while you are alive. Go back to the Wallet app and look for the same Account Details or beneficiary section where you named the original beneficiary. You should see an option to edit or update. Tap it, remove the old name, and enter the new one.

If you cannot find an edit option in the app, contact Goldman Sachs support again and ask them to update your beneficiary. They can do this over the phone or by mail, depending on their process. Keep a record of when you made the change — take a screenshot or ask for a confirmation email — in case there is a dispute later.

You can also remove a beneficiary entirely if you change your mind. This puts the account back to having no designated beneficiary, which means it will go through probate if you die. Most people do not do this unless they are going through a major life change like a divorce.

State-specific rules that affect your beneficiary

Some states have special rules about beneficiary designations. For example, a few states do not recognize beneficiary designations on savings accounts the same way they do on retirement accounts or life insurance. A handful of states also have community property laws that affect who can inherit from a married person's account.

You do not need to know all the details, but if you live in California, Texas, Washington, Arizona, New Mexico, Idaho, Louisiana, or Nevada, mention your state when you contact Goldman Sachs. They can tell you whether any special rules apply to your account. If you are married and live in one of these states, also ask whether your spouse has any automatic rights to the account regardless of who you name as beneficiary.

If you are unsure about your state's rules or you have a large account, a lawyer who handles estate planning can review your beneficiary choice and make sure it aligns with your overall plan. This usually costs between $100 and $300 for a simple consultation.

Frequently Asked Questions

Can I name my estate as the beneficiary instead of a person?

Technically yes, but it defeats the purpose of naming a beneficiary. If you name your estate, the money still goes through probate, which is what you are trying to avoid. Name a specific person instead, or ask Goldman Sachs whether you can name a trust as the beneficiary.

What if my beneficiary dies before I do?

The money goes to your estate and is distributed according to your will or your state's intestacy laws. You should review your beneficiary designation every few years and update it if major life events happen — deaths, marriages, divorces, births. If you want the money to go to your beneficiary's children if your beneficiary dies first, ask Goldman Sachs whether they allow "per stirpes" designations.

Do I need a lawyer to name a beneficiary on my savings account?

No. Naming a beneficiary is a simple process you can do yourself through the app or over the phone. A lawyer is only necessary if you have a complicated situation — a large account, a blended family, a will or trust already in place, or concerns about your state's laws.

Can my spouse override my beneficiary choice?

In most states, no — your beneficiary choice is binding. However, in community property states (California, Texas, Washington, Arizona, New Mexico, Idaho, Louisiana, Nevada), your spouse may have automatic rights to part of the account even if you name someone else. Ask Goldman Sachs about your state's rules when you set up your beneficiary.

Will naming a beneficiary affect my taxes?

Not during your lifetime. After you die, the beneficiary may owe income tax on any interest the account earned after your death, but this is handled between the beneficiary and the IRS, not by you. For very large estates (over $13.61 million in 2024, though this changes yearly), federal estate tax may apply, but this is rare and a lawyer can advise you on it.