Estate planning and trust services

We can provide this service in all 50 states. By naming Thrivent Trust Company in your estate planning documents, you place the responsibility of managing your estate with professionals who are experienced in these important duties. When you die, we will work with your attorney to facilitate the smooth and accurate disposition of your property and the execution of your final wishes, according to the terms of your will.
To name Thrivent Trust Company as executor of your estate, have your attorney name Thrivent Trust Company as executor or personal representative in your will and forward a copy of the will to us. Fees will only be incurred if we serve as your executor.

Thrivent Trust Company has significant experience in the investment, tax, legal and administrative duties of a trustee or executor. Our professionals are impartial concerning conflicting or competing family desires, which may help preserve family harmony. In addition, we work under stringent government regulations designed to protect your interests.

Contact us for a copy of our preferred trust and will language memorandum. Thrivent Trust Company can review your estate plan relative to that memorandum at no charge.

We ask that you forward copies of any documents that name Thrivent Trust Company as a trustee or executor to us. There is no charge or service fee for safekeeping of an estate planning document in which we are nominated to serve. Fees are only incurred if we serve in a fiduciary capacity.

Yes. Thrivent Trust Company is federally chartered and serves the needs of the general public. This means we can help you, regardless of where you live and whether or not you are a client of Thrivent.

In its basic sense, estate planning is the process of making a plan in advance and naming the people you want to receive the things you own after you die. It should:

• Include instructions for passing your values (e.g., religion, education) in addition to your valuables.
• Include instructions for your care if you become disabled before you die.
• Name a financial guardian or conservator for minor children.
• Provide for family members with special needs without disrupting government benefits.
• Provide for loved ones who might be irresponsible with money or may need future protection from creditors or divorce.
• Include life insurance to provide for your family at your death, disability income insurance to replace your income if you cannot work due to illness or injury, and long-term care insurance to help pay for your care in case of an extended illness or injury.
• Provide for the transfer of your business at your retirement, disability or death.
• Minimize taxes, court costs and unnecessary legal fees.
• Be an ongoing process, not a one-time event.

For the most part, yes. Believe it or not, nearly everyone has an estate. Your estate is comprised of everything you own – your car, home, other real estate, checking and savings accounts, investments, life insurance, furniture and personal possessions.

Estate planning doesn't have to be expensive. If you can't afford a complex estate plan, start with what you can afford. For a young family or single adult, that may mean a will, term life insurance, and powers of attorney for your assets and health care decisions. Then, let your planning develop and expand as your needs change and your financial situation evolves. An experienced attorney will be able to provide critical guidance and confidence that your documents are properly prepared.

If you die without an estate plan, your assets will be distributed according to the probate laws in your state. In many states, if you are married and have children, your spouse and children will each receive a share. That means your spouse could receive only a fraction of your estate, which may not be enough to live on. If you have minor children, the court will control their inheritance. If both parents die (e.g., in a car accident), the court will appoint a guardian since they would be unaware of your choice.

If your name is on the title of your assets and you're unable to conduct business due to mental or physical incapacity, only a court appointee can sign for you. In other words, the court – not your family – will control how your assets are used to care for you through a conservatorship or guardianship. This can be expensive and time consuming. Plus, it is open to the public, and it can be difficult to end even if you recover.

Revocable trusts can be amended or revoked during the grantor's lifetime. Once the grantor dies, the trust typically becomes irrevocable.
Irrevocable trusts cannot be changed after they're made. They're often used to fund legacies for children or grandchildren, or make gifts of property or life insurance.
Testamentary trusts are usually included in a person's will. They take effect after the grantor has died. They are also considered revocable because your will can be changed anytime during your lifetime.
Living trusts take effect during the grantor's lifetime.
Every trust must have four primary elements.

• The "grantor" or "settlor" – the person who makes the trust.
• The "trustee" – the person or organization that manages the trust assets and performs functions of the trust. If the trustee dies or is no longer able to serve in that capacity, a "successor trustee" – is appointed as a replacement.
• The "beneficiary(ies)" – the person or class of persons who will benefit from the trust.
• The "corpus" – the assets within the trust.