Trust Services
At Honor Credit Union, we help you prepare for the future by offering estate planning services. We’ve partnered with Trust & Will and Credit Union Trust to give you peace of mind knowing your families future is secure. Learn more below about the services you can take advantage of and get started preparing for your future today!
Our Trust and Estate Services: Your Legacy
Meet Our
Team
Trust Services Options
Will
- A plan for who will look after your children, what should happen to your assets, and how you’d like to be cared for when you need it
- Partnered with Trust & Will, a leading online provider of estate planning services in the U.S.
- Easy-to-use tools enable you to create a will online from the comfort of your home, inexpensively and without an attorney
Trust
- Avoid probate by creating a complete Trust-Based Estate Plan for the protection and transfer of your most important assets
- Partnered with Trust & Will, a leading online provider of estate planning services in the U.S.
- Easy-to-use tools enable you to create a will online from the comfort of your home, inexpensively and without an attorney
Trust & Estate Administration
- It can be difficult to find a knowledgeable source that’s accessible, reasonable and personal
- Honor Credit Union helped form Credit Union Trust to make the process easier
- As trustee or co-trustee, Credit Union Trust will administer your trust according to your terms, distribute assets, file taxes and more
Let's Connect!
Please submit the form below and a Credit Union Trust representative will reach out to you.
Take a Short Quiz
Knowing the right approach to take in preparing for the future can make a huge difference. Our partners at Trust & Will have created a simple quiz to help guide you.
Meet Jim Welch
Credit Union Trust was created to provide trust and investment solutions to credit union members and the public. We promise to build on the credit union legacy of service and integrity as we create an enduring future for those we serve.
Vice President &
Trust Officer
Services Offered
- Revocable, Irrevocable, Special Needs and Charitable Trusts
- Estate Planning, Agent for Fiduciary and Co-Trustee Services
- Personal Representation and Conservatorship
- Veteran’s Accounts, Custodial Services and Business Succession
Jim has more than 25 years of experience in personal trust administration and probate & estate settlement. A National Trust School Graduate of both University of Chicago and Northwestern University, Jim received his CTFA designation in 2004 and holds a Bachelor of Science degree from Western Michigan University. Jim is a member of the Southwestern Michigan Estate Planning Council and serves as a HOST volunteer at Benton Harbor Public Schools. His office is located in the St. Joseph Member Center.
Susan Goodkind Wideman
Business Development Consultant
Susan Goodkind Wideman, J.D. practiced Elder Law & Estate Planning in Michigan’s Upper Peninsula for 20 years. She retired from her law firm in 2019, and now works with Credit Union Trust as a Business Development Consultant.
Susan received her law degree from Western Michigan University. She also holds a Bachelor’s degree from Cornell University.
Susan works out of the Honor Credit Union Negaunee Member Center.
Pete Munson
Financial Advisor
Pete has been a financial advisor for nearly 20 years providing comprehensive, financial and investment planning services to his clients. As a Financial Advisor, Pete provides client investment strategy oversight, financial planning and technology supported through LPL Financial.
He is a graduate of Northern Michigan University with a Bachelor of Science degree in Finance. Pete earned the CFP® designation in 2009 and continues to fulfill annual continuing education requirements and to remain current regarding trends and planning techniques within the industry.
Pete works out of the Honor Credit Union Negaunee Member Center.
Mark Sutherland
Financial Planner
Mark has been a financial planner for over 30 years years providing comprehensive, financial and investment planning services to his clients.
Mark maintains two strong associations. First, he provides securities oversight, financial planning and technology supported through LPL Financial. Secondly, Mark is an active member of a prestigious and large regional network of America Group Retirement Strategy Centers. Service team members are skilled, knowledgeable, and focused on serving clients with dedication and distinction. America Group Retirement Strategy Centers is known as one of the “Top” large enterprises associated with LPL Financial.
Mark attended Michigan State University. He graduated with a B.A. in Business Administration in 1979.
Credit Union Trust does not guarantee investment results in its fiduciary accounts. Where non-deposit investment products are used, such investment products are not insured by the FDIC, are not deposits or other obligations of Credit Union Trust and are not guaranteed by Credit Union Trust, and are subject to investment risks, including possible loss of the principal invested.
Resources & Frequently Asked Questions
Related Tools & Resources
Estate Planning 101
Will or Trust?
Types of Wills
Trust Funding Guide
Building Your Team
Credit Union Trust Academy
Frequently Asked Questions
If you are looking to create, and manage your estate documents, Trust & Will is the service for you. It’s a cost effective way to create your trust without an attorney. Trust & Will is the leading online estate planning platform in the US whose mission is to help families secure their legacies.
If you are looking for a service to create, manage, invest and file taxes on behalf of your trust, Credit Union Trust is the service for you. Credit Union Trust is a limited purpose bank, founded and owned by Honor Credit Union and six other Michigan based credit unions to provide trust products and services to their credit union members.
Wills and trusts have a lot of overlap, but also a lot of difference.
Wills are simpler documents that let you name guardians for kids and pets, designate where assets go, and specify final arrangements. The simplicity of a will does come with some drawbacks: a will offers more limited control over the distribution of assets and often has to go through a probate process after death.
Like a will, a trust also controls the disposition of assets but provides greater control over when and how your assets are distributed. Trusts only apply to assets held in the trust, so you will need to transfer assets to the trust. This makes a trust a little more complex to set up, but it brings major benefit. Trusts are also often used to minimize or avoid probate entirely, which can be a huge draw for many and justifies the additional work upfront needed to create a trust.
Both are ways to say who will receive your assets. Each just has a different way of distributing those assets, as well as different advantages and disadvantages.
Most people complete a will in 15 minutes and a trust in 20 minutes. All of your answers are saved as you go, so feel free to pause and come back to pick up where you left off at any time!
- Store the documents in a safe place
- Notify loved ones of the location
- Review and update your documents every year
Having a discussion about your estate plan can be a great way to share your wishes and prevent conflict. Even if you’re hesitant to share details, you should consider letting your family, executors or successor trustees, and loved ones know that you have an estate plan and where the original signed document is located.
Selecting a trustee isn’t as simple as you might imagine. Who you choose needs to be qualified, knowledgeable, and committed, and their actions will have a lasting impact. You can choose a friend of family member to be an individual trustee or you can have a professional trustee that has been professional trained for this role.
To consider these options, you can find out more information by clicking here.