Estate planning
Prepare your finances for the future.
Overview
Whether you anticipate a loss or want to be prepared for the unexpected, everyone can benefit from a financial plan. We’re here to help you organize your assets for end-of-life.
Steps to take now:
Establish a trust & a will
Determine beneficiaries for your assets after you pass away.
Set up a joint account
When one account holder passes away, funds will likely be accessible to the other right away.
Buy a life insurance policy
Protect your loved ones and make sure their expenses are covered.
Helpful resources
Explore these tools to learn more and get started.
Key terms
Beneficiary:
The person designated to receive the income of an estate that is subject to a Trust
Living Will:
A written statement detailing a person’s desires regarding their medical treatment in circumstances in which they are no longer able to express informed consent
Probate:
The process of administering an estate
Trust:
An arrangement where a person (a trustee) holds property for the good of one or more beneficiaries
Will:
A legal declaration of a person’s wishes regarding the disposal of his or her property or estate after death
We're here to help
Have you recently lost a loved one and need help with their finances? We are here for you.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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