Estate planning options at MVFCU
Preparing your MVFCU accounts for estate transfer involves two key steps: designating beneficiaries on each account and, where appropriate, retitling accounts into a trust. Because MVFCU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts with Payable on Death designations or trust ownership bypass probate entirely.
The transfer rules at MVFCU vary across 19 accounts. Below is a breakdown of beneficiary options, trust funding, and which products support each method.
Beneficiary designation is not available for investment accounts at MVFCU.
Beneficiary designation is not available for retirement accounts at MVFCU.
What MVFCU says about trust accounts
Each section is MVFCU's own statement, with the document it comes from numbered under Sources.
Which accounts a trust can hold1
- Trust account
A checking account held by a revocable or an irrevocable trust is eligible for the Overdraft Privilege service, on the same terms as a personal account.1
Not in MVFCU's published guidance11
- What the owner provides to name a beneficiary
- A beneficiary designation form
- An online way to name a beneficiary
- Who may be named as beneficiary
- How shares are split among beneficiaries
- What a designation takes to be effective
- Terms in its agreements for a beneficiary designation
- A procedure for holding an account in a trust
- A trust account form
- Which trust documents it accepts
- How long a change takes
Sources1
- 1.Overdraft Privilege Disclosure, revised 03/27/17
Sources
(3)·
Data sourced from MVFCU primary sources (38 pages reviewed). How we research.
Download these MVFCU instructions
A printable PDF with the steps, required documents, and contact details, verified against MVFCU primary sources. Bring it to the branch or keep it beside the phone.
MVFCU estate support
Contact Center
Phone
Contact Center (alternate)
Hawaii
Easy Access telephone banking (Mat-Su)
Easy Access telephone banking (Anchorage)
Easy Access telephone banking (Hawaii)
Lost or stolen card after hours
Mortgage and commercial loans
Fax
Hours
Mailing address
Website
Estate requests go through general customer service.
Estate planning articles
Learn how to protect your MVFCU accounts and other assets with trusts, beneficiary designations, and estate planning documents.
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New Home
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Retirement
Retirement changes your financial picture. Healthcare directives, beneficiary reviews, long-term care planning, and protecting what you've built.
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Free forms for planning your estate: will, living trust, pour-over will, powers of attorney and TOD deed. Prepare each form for your state and download the PDF.
Revocable Living Trust
Create a revocable living trust to avoid probate, protect privacy, and control asset distribution.
Last Will and Testament
Name your heirs, guardians, and final wishes. Free for every state.
Codicil to a Will
Add, revoke or replace provisions of your will and republish the rest, signed as your state requires for a will.
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Free tools for planning your estate: will and trust costs, trust or TOD deed, and the signing rules. Run each tool for your state and read its answer.
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Whether a gift owes federal gift tax, how much of the annual exclusion and lifetime exemption it uses, and whether Form 709 is due.
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