Transferring Credit Union Accounts to a Trust

Posted by John B. Palley on Saturday, May 19th, 2012 in Trusts

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Transferring, or connecting, ALL assets to a trust is a crucial part of the California estate planning process and this includes CREDIT UNION ACCOUNTS. Just like bank accounts, stock accounts, bonds, mutual funds, and all other such monetary assets… credit union accounts need to be in your California revocable living trust. Listing the assets on the schedule of assets is important but more important is notifying the credit union so they know to actively change the account vesting into your trust.

In my experience credit unions are often easier to work with than banks, for these trust changes, so it shouldn’t be too difficult to accomplish. Most credit unions have a certification of trust form that you would fill out. Your estate planning attorney can help you fill the form out.

Any questions about trust funding during life, or after death, let me know. -John

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