Trust and Estate Planning Services

Newfoundland and Labrador Credit Union has partnered with Concentra Financial to provide our owners with a new service - Estate Planning and Trust Services.

The need for Personal Trust Services is more evident today than at any other time. Many of our members will require these services to effectively carry out personal and estate planning goals.

Newfoundland and Labrador Credit Union in partnership with Concentra Trust are working together to ensure that our members' trust needs are met. The personal trust products and services available include:

Estate Plan Needs Assessment Questionnaire
You work hard over your lifetime and you want to make sure your possessions and finances are looked after. Please take a few moments to fill out the questionnaire liked above and help determine your needs for planning after your gone.

Estate Planning
This is the process during which you review your current situation and identify alternatives available to establish and accomplish personal financial goals. Estate Planning assists you in making informed decisions about the ownership and distribution of your assests after you are gone. It is often the first step in the preparation of a property drafted Will.

Estate Administration
A formal process during whcih the authorized estate representatives identifies assests, settles debts, pay taxes and lastly, distributes the balance of the estate in accordance with the terms of the Will or the laws of intestacy

Trusts
Trusts are a valuable estate, income tax and financial planning tool established through formal, legal agreements. You establish the trust through your Will or during your lifetime, that names the benficiaries who are entitled to receive the benefits from the trust and transfers legal ownership and control of the property to the trustee. The trustee administers the assets according to the terms of the trust.

Personal Adminstration Accounts
A Personal Administration Account is a product that allows you to appoint a professional agent to direct some or all of your financial affairs. You retain legal ownership and control of the assets and can have as much, or as little, involvement as desired. A formal agreement with Concentra Trust contains the details of the arrangement and which functions are delegated.

What is a Professional Trustee?
Stability, trustworthiness and expertise are all hallmarks of a professional trustee.  For over a half century, Concentra Trust has fulfilled the trust needs of individuals and organizations and as a result has extensive knowledge of trust services.

Executor EASE
Have you been named executor to someone's estate? Being an executor can be a tough job and many who accept an executor appointment don’t fully understand the duties, responsibilities and personal liabilities that come with it. Available through NLCU's partnership with Concentra, Executor EASE is a program designed to assist executors in fulfilling their role in administering an estate. Your credit union can arrange a no cost 30-minute consultation for members or non-members currently serving as executors with one of our estate administration experts. Concentra can act as an agent to complete any or all of the administrative tasks associated with settling an estate.

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Trust services provided through Concentra Trust

 

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