Resources & Articles

Planning for the future can be complicated.

Review some of these resources and documents to help you understand the basics.

A Will vs a Trust?

Special Needs Planning

November 29, 2021 Planning

Here are the basics on preparing financially for your child with special needs. Let's explore the different considerations that your family may face over the years.

Click here for all of our Investing blog articles.

Select the title below to go to the Resource Document.

Trust and Trust Services
A will is not the only way. This brochure quickly reviews the benefits of a Trust, who would benefit from setting one up and why.

Revocable Living Trust FAQs
This FAQ document goes into more details about how Trusts work and the process in setting one up.

Settlement Trust Services
Life can change and so can expenses. A Settlement Trust helps guide the amount set aside in the trust to best fullfil the needs of the claimant, now and in the future.

Spendthrift Trusts
You may be reluctant to leave a lump sum of money to a financially inexperienced loved one who is prone to irresponsible spending. A Spendthrift Trust may be a better option.

Special Needs Trust FAQs
It can be a challenge caring for a disabled loved one. A Special Needs Trust help that the beneficiary is financially cared for later in life or if people with special needs who want to preserve their own assets.

Indiana inheritance procedures in the absence of a will

If you don't have a will or a trust, the State of Indiana decides how your estate will be distributed. The information below describes Indiana's inheritance procedures based on your marital status, and whether you have surviving children, parents or siblings.

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FOR A MARRIED PERSON	DISTRIBUTION OF ESTATE
...with one or more living child and/or issue of deceased child (e.g., wife dies and is survived by husband and child of deceased son) OR	Spouse: ½ of estate Child/children and/or grandchild/grandchildren: ½ estate
....with no surviving issue (e.g., child) but with living parents OR	Spouse: ¾ of estate Parents: ¼ of estate
...with no surviving issue or parents OR	Spouse
...with a second or subsequent spouse, and with surviving child/ children of deceased child/children (e.g., husband dies and is survived by second wife and child from first marriage) OR	Spouse: ½ of personal property and ¼ value of real estate property Child/children and/or grandchild/grandchildren: equal share of remaining personal property and real estate property
...with none of the above	State of Indiana

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FOR AN UNMARRIED PERSON	DISTRIBUTION OF ESTATE
...with child/children or issue of deceased child/children OR	Child/children and/or grandchild/grandchildren: equal shares
...without surviving children	Per parent: ¼ of estate Siblings and nieces/ nephews: remaining estate
...and with no parents or siblings	Nieces/nephews: equal shares
...and with no nieces or nephews	Grandparents: equal shares
...and with no grandparents OR	Aunts, uncles, and cousins: equal shares
...with none of the above	State of Indiana

Note:

The term “issue” simply means someone descended from someone else, such as a daughter or granddaughter. The term “personal property” in these diagrams refers to those items that have immeasurable or intrinsic value, such as an old piano or a collection of personal journals. Bank accounts, pensions, real estate, life insurance, and other financially measurable assets are included in the overall definition of the “estate.”

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Trust services provided by MEMBERS Trust Company are not federally insured, are not obligations of or guaranteed by the credit union or any affiliated entity, involve investment risks, including the possible loss of principle. MEMBERS Trust Company is a federal thrift regulated by the Office of the Comptroller or the Currency.