Estate planning options at St. Mary's CU

A Revocable Trust Account is opened by one or two owners, called trustees, in trust for another person. On the death of the trustee, or of both trustees, payment may be made to the person for whom the trust was made, or that person's legal representative.¹

On a Joint Account With Survivorship, when an owner dies the balance belongs to the surviving owner or owners.¹

An Individual Account is in the name of one person.¹

An authorized signer on an individual account may not affect the rights of beneficiaries other than by withdrawing funds. The authorization ends automatically at the owner's death.¹

A Revocable Trust Account is held in trust for another person, who may be paid on the death of the trustee or trustees.¹

The credit union reserves the right to refuse some forms of ownership and beneficiary designations on any or all accounts.¹

The Terms and Conditions permit accounts to be opened and maintained by a person or persons named as a trustee under a written trust agreement.¹

By opening a trust account the credit union does not act as trustee and undertakes no obligation to monitor or enforce the terms of the trust.¹

Investment and annuity accounts, and trust services for investment assets^{3, 4}