Good afternoon,

We've had a local attorney contact us and inquire about whether we would be willing to create a process for pre-assigning the distributions of capital shares at death. Apparently, she has been approached by multiple estates where the co-op accounts were the sole asset causing the family to incur the expense of probate. She also pointed out that all other accounts of this nature are handled via beneficiary designation or ownership by/an assignment to trust.

Currently, we allow anything under $2,000 to be resolved by presenting a death certificate and completing a notarized form. However, for anything over $2,000, we require probate (letters of administration from a court). Does anyone have any policies, forms, etc. that allow for the pre-assigning of capital credits prior to the death of a member? If so, can you please share anything you're comfortable with?

Thank you!

Christine Moor
Chief Financial Officer
Office: 386-330-5651

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