A Trust is a fiduciary relationship where one person (the Trustor) holds the title to a property (the trust estate or trust property) for the benefit of another (the beneficiary). A Trustor, who also owns the funds in this account, establishes the Trust.¹
Requires a legal trust agreement -
Account is established by a Trustee(s) who may or may not also be a Trustor(s).
A DCU Savings or Checking Account -
can be set up as a Trust Account.
Trustees have access to funds during the life of the Trust. The beneficiary has access to the funds, through the Trustee, only upon the death of the Trustors
Membership Eligibility Requirements -
apply to Trustor(s) of a revocable Trust and Trustors plus Beneficiary(s) of an irrevocable Trust
Debit or ATM Card -
can be issued in the Trustee's names only. (Upon Approval)
¹DCU cannot provide legal, tax, or estate planning advice. We suggest you discuss your particular situation with a tax consultant or advisor.
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