Trust Account

When you create a living trust, you transfer ownership of your assets to the trust.

A living trust can act a lot like a will if you include the details and instructions for how you want your estate to be handled at your death. However, unlike a will, a properly funded trust:

• is not generally subject to probate,
• prevents the court from controlling your assets at incapacity if you provide for that in the trust, and
• gives you control over the assets you leave to your heirs.

Please note that wills and trusts are not mutually exclusive. Depending on the individual needs of the Grantor, wills and trusts may be used together.

Star One accounts may be funded or re-titled under an established trust. A Star One Application for Account Held by Trust, as part of the Membership Application and Account Card form, must be completed. The Credit Union needs to view the original or certified copy of the trust, or a certification of trust (a photocopy is not acceptable). Simply naming your assets in your trust document does not fund or protect your account balances under a trust. Click here for Star One's Certification of Trust by Trustee(s) form.