We offer Trust-Owned Accounts for members who have established a revocable trust. The purpose of a trust is to manage the grantor’s property before or after death or if he/she becomes incapacitated. Revocable trusts have many advantages:
To open a Trust-Owned Account, submit the following supporting sections of the trust document along with your completed PDF application:
- Complete name of your trust
- Name of the Grantor(s)
- Name of the initial Trustee(s)
- Statement/terms of the revocability of your trust
- Signature pages
- Successor Trustee(s)
- For loan purposes, it is important that we obtain the section of the trust document that indicates the powers of the trustee
Please note that Elements Financial does not manage trusts or create trust documents, but we can refer you to an Attorney, if needed. We may be able to accept some irrevocable trusts.
