Trusts

Preserve Your Wealth… Today and Beyond

Establishing an account in the name of your Trust is an effective estate planning tool that can protect your assets from the expense and delay of probate, and estate taxes. Plus it entitles you to all the benefits of membership including:

• 3.75% APY
• Unbeatable savings dividends
• Savings federally insured to at least $100,000 by the NCUA
• No maximum balance limit
• Must maintain an individual account in the name of either the grantor or the trustee with the minimum of $5.00
• First box of checks FREE (checking account only)
• Online banking with FREE Bill Pay*

To be eligible for an account in the name of your trust, an individual savings account is required. In order to open an account in the name of your trust, a copy of the notarized Certificate of Trust or Trust Abstract drafted by your attorney is required along with a completed Trust Application.

*View Disclosures

Some Facts about Living Trusts

• Living Trusts are drafted by attorneys
• A living trust can bypass the costly and lengthy process of probate (a process that aims to prove the validity of a will), as well as some inheritance taxes.
• A Revocable Living Trust can be modified during the lifetime of the Trustor(s) by the Trustor(s).
• Irrevocable Trusts cannot be modified by either the Trustor or Trustees.
• The assets can remain in the trust account until the trust requires that the trustee make the appropriate distributions to your beneficiaries as indicated in your Trust.
• A Living Trust account can reduce or eliminate estate taxes (see your tax professional)

See your lawyer and tax professional for more complete and thorough counsel.

Frequently Asked Questions

Why is an Individual Account still required to be opened?
The Individual Account is required so that the member has membership in Alliant Credit Union. By having membership, the member is then eligible for other products such as the Trust Account. Also, with the membership account, it ensures that the accounts are insured with the NCUA.

What is a Trustor or a Trustee?
The Trustor/Grantor/Settlor is the person who creates the trust.
The Trustee is the person who manages the assets in the trust.
In some instances, the currently acting Trustee may not be the original Trustor

Check our fee schedule.