Frequently Asked Questions

Why should I have a Pet Trust?

A Pet Trust allows you to direct a person of your choosing to use funds you have set aside to take care of your pets. [back to top]

How long does a Pet Trust last?

A Pet Trust will remain in force as long as there are funds remaining in the Pet Plus Account to pay for the care of your pets. That is why it is important to consider the cost of providing care for the expected lifetime of each of your pets. [back to top]

Can I add or withdraw money from my account?

Yes, you are in complete control of your account. You can add to or withdraw funds from your PetTrustPlus account at any time.* [back to top]

* Subject to a monthly limit of 6 transfers from the account

Do I have the option to close my PetTrustPlus account?

Just like a regular savings account, you can choose to close your account whenever you choose without any hassles or penalties.

What are the details of the PetTrustPlus Account?
 

  • FREE Pet Trust
  • FREE personalized Pet Profile with Emergency Response Cards
  • 2.50% APY (Annual Percentage Yield)
    APY is accurate as of .
    The interest rate and APY may change after the account is opened.
  • No minimum balance
  • Check your balance or review your account activity 24 hours a day
  • FREE direct deposit
  • FREE recurring ACH transfers from your checking account
  • ATM card issued on request
  • Download account history into Quicken or Microsoft Money
  • For complete details, refer to the Legal Disclosures

What do I need to know before creating a Trust for my pets?

The two most important considerations in creating a Pet Trust are: (1) How much money will your designated trustee or “caregiver” need to care for your pet(s) over the course of their lifetimes, and (2) Who do you want to be in charge of taking care of both your pets and the money set aside for them in the trust? [back to top]

What does it mean to “fund” your Pet Trust?

Without funding, the trustee will not be able to provide your pet with care if you die. This can be accomplished through the “pay-on-death” provision of your PetTrustPlus Account. [back to top]

Why would I want more than one Settlor?

Although you’re not required to have a Co-Settlor, it can be a good idea, especially if your spouse or partner is willing to assume responsibility for your pets in the case of your death. By designating a Co-Settlor, the Trust doesn’t take effect until after the death of both the original Settlor (usually yourself) and the Co-Settlor. [back to top]

Can I change or add pets covered by the Trust ?

You can add as many pets to a single Pet Trust as you please, as long as the pets that you designate are alive or in gestation when the changes are made or at the time that the trust is created. You can also remove pets at any time, as well. The important thing to understand is that there will only be one Trustee, or “caregiver” associated with that Pet Trust. That means that you will be asking the person to be responsible for the care of all the pets named in the Pet Trust and that may be too much responsibility for some people. An alternative would be to create a separate trust for pets that will need to be cared for by a different person. [back to top]

Who is UmbrellaBank.com?

UmbrellaBank.com is the Internet banking division of New South Federal Savings Bank. New South Federal Savings Bank is a member of the Collateral Family of Companies, which has been in the financial services industry since 1933. Our products are available online 24 hours a day, 7 days a week so that our customers can do their banking when it is convenient for them.

UmbrellaBank.com and New South Federal share the same core values of Integrity, Service, Community and Profitability. [back to top]

Who is New South Federal Savings Bank?

New South Federal Savings Bank is a federally chartered institution and is regulated by the Office of Thrift Supervision (OTS). New South is a member of the Federal Deposit Insurance Corporation (FDIC). [back to top]

How safe is my money at UmbrellaBank.com?

Very safe. The Federal Deposit Insurance Corporation (FDIC) insures each depositor up to at least $100,000. You can also have additional funds on deposit and be fully insured provided your accounts meet certain requirements. For more information on how to make sure your accounts are insured visit the FDIC Website, "Insuring Your Deposits". Our FDIC Certificate of Insurance Number is 32276. [back to top]

How secure are my transactions over the Internet?

Very secure. In a Washington Post article, a ranking official of the Federal Trade Commission suggested that it is much safer to transmit a credit card number over the Internet than to give it to a waiter at a restaurant or read it aloud over a cordless phone---two activities that are generally deemed "safe" by everyone. The information you see during an UmbrellaBank.com online banking session is available only to you. UmbrellaBank.com's electronic technology ensures the secure transfer of information over the Internet through 128-bit encryption, use of filtering routers and firewalls, and unique User IDs and Passwords. To learn more about the security of your transactions, visit our Security page or review our Privacy Commitment. [back to top]

Why should I do my banking on the Internet?

The Internet provides you the convenience of banking when you want to. Whether that is first thing in the morning, in the middle of night or whenever you have the time. With UmbrellaBank.com checking accounts you also have the convenience of online statements, check images and bill payment. [back to top]

This information is provided to explain how the PetTrustPlus Account works at UmbrellaBank.com. It is not intended to be considered legal advice. Estate and tax planning, inheritance, and other end-of-life decisions should be made carefully, be reviewed when your circumstances change, and upon consultation with your attorney.

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