What is a Testamentary Trust?
Upon your death, a provision within your Last Will and Testament creates a Testamentary Trust. Specific assets are turned over to a trustee for taking care of beneficiaries as you have directed.
The Alton E. and Thelma McCartney Scholarship
We are privileged to act as the trustee over this scholarship, which was established under the will of Alton & Thelma McCartney to help Jackson County graduates receive their college degrees. The scholarship is unique in that applicants may apply for it each year they are attending college, even during their graduate study. Requirements for application are that students earn a diploma (not a GED) from a Jackson County high school and then become classified as a full-time (at least 12 credit hours per semester) college student. Graduate and master's enrollment qualifications differ.
Stop by any of our Jackson County locations to pick up an application or print one from here. If you are a current recipient of the McCartney Scholarship and would like to apply again, please use this application.
What a wonderful way to leave a legacy! If you're interested in establishing a scholarship or a Testamentary Trust that supports a cause you're passionate about, call us today at (870) 523-7602.
By making M&P Trustee, we can provide peace of mind to your family by providing investment management, along with carrying out the other provisions of the trust. You have the flexibility of declaring income from the trust to be paid to a beneficiary or beneficiaries during their lifetime, after which the principal can be distributed to another beneficiary or other beneficiaries. These types of trusts may also accomplish estate-tax savings.