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Benefits to Establishing a Trust

There are several benefits to establishing a trust.
  • Minimizes probate costs by transferring property before death
  • Holds property for the benefit of minors or others who may lack the necessary skills or judgment to manage investments
  • Establishes control over how property is distributed and used after death
  • Preserves the estate assets through competent, professional management
  • Reduces or eliminates income taxes and estate taxes (when irrevocable trusts are used)
  • Keeps financial affairs private. The probate process is a matter of public record where a trust is kept private.
Trust Services offered through MEMBERS Trust Company, a federal thrift regulated by the Office of the Comptroller of the Currency. Trust products are not credit union deposits, are not insured by the NCUA or any other federal government agency, are not obligations of or guaranteed by the Credit Union, MEMBERS Trust Company or any affiliated entity, and involve investment risks, including the possible loss of principal. The material above is for educational purposes only and is not intended to provide legal or tax advice regarding your situation. For legal or tax advice, please consult your attorney and/or tax professional.

*Quoted rates, dividends, annual percentage yields (APY) and rates (APR) are subject to change daily at the discretion of the Board of Directors.