Trust Services

A trust is a form of property ownership where one party holds legal title with the responsibility and duty of managing the assets in the trust for the benefit of another party. A trust allows you to preserve and protect your legacy for future generations, and to provide for a smooth transition of your wealth after you are gone.

A trust involves three primary parties

     
Trustor, or Grantor
The person creating and contributing property to the trust.		 Trustee
The person or entity who manages the trust.		 Beneficiary(ies)
The person or persons designated to receive the trust.

 

The power of trusts is in their versatility—many types exist, each designed for a specific purpose. Common types of trusts include, but are not limited to:

  • Revocable (Living) Trust
  • Special Needs Trust
  • Credit Shelter Trust
  • Spendthrift Trust
  • Life Insurance Trust

Whether you're seeking to manage your own assets, control how your assets are distributed after death, or plan for incapacity, trusts can help you accomplish your estate planning goals.

 

To learn how trusts may fit into your financial plan, call Tower Wealth Management
at 301-497-7062 or 866-56-TOWER, ext. 7062.

 

Strategic Alliance with Members Trust Company

Tower Wealth Management has an alliance with Members Trust Company to offer trust services to Tower Credit Union members. Since 1987, Members Trust has provided trust services to credit union members. They provide a complete trust offering, along with highly-trained, licensed professionals.

Members Trust is owned by credit unions, with a local office in Fairfax, Virginia. The Fairfax office is staffed with an estate planning attorney and trust administrative staff, and is available to Tower members for face-to-face consultations. There are no fees for Members Trust consultations or future trustee appointments.

Non-deposit investment products available through Members Trust Company are not deposits of or guaranteed by the trust company, a credit union or credit union affiliate, are not insured or guaranteed by the NCUA, FDIC or any other governmental agency and are subject to investment risks, including possible loss of the principal amount invested. Members Trust Company is a federal thrift regulated by the Office of the Comptroller of the Currency.

This page is provided for informational purposes only and is not intended to provide legal or tax advice. For legal or tax advice, please consult an attorney and/or accountant.

Members Trust Company is not affiliated with Tower Wealth Management or LPL Financial. You are under no obligation to use the services of Members Trust Company and may choose any qualified professional to provide trust services.