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For the convenience of members who wish to plan
for the future distribution of their assets, MCCCU offers Living
Trust Accounts. The key element of this account is that, just
like a will, it can be changed, amended or completely revoked
by the donor at any time. Features include:
- A Living Trust Account is made during the lifetime
of the donor, i.e., the person setting up the Trust.
- A Trust, like a will, can provide a detailed
plan for distribution of the assets in trust. The distribution
plan can be simple or in great detail, to go on for one or more
generations.
- Generally, the costs and delays of probating
assets will be avoided with a Living Trust Account.
It is recommended that you consult your financial
counselor for advice on the suitability of a Living Trust Account
for your circumstances. To open a MCCCU Living Trust Account,
please stop by the office or call (818) 238-2950.
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