Special Estate Retirements are not automatic. A request must be submitted by the Executor or administrator of the estate or relative of the deceased member where no will exists and no administrator was appointed.
Special Estate Retirement
If the application is not approved, the capital credits will remain on Union Power's records and will be handled according to the Cooperative's general capital credit retirement process.
If an application is incomplete, Union Power may request additional information before the application can be processed.
Processing times vary depending on the completeness of the application and the documentation submitted. Providing all required documents with your application can help prevent delays. Please allow 4-weeks for processing.
Payments are calculated on a discounted net present value basis. This means eligible capital credits are discounted to reflect an early payout. The payment may also include estimates for earned but not yet allocated margins and deductions for any unpaid balance.
Complete the Special Estate Retirement application and submit it along with the required documentation by mail, in person, or submit online. Information on required documentation can be found on the application.
An application may be submitted by:
- The executor named in the member's will
- The court-appointed administrator of the estate
- A relative of the deceased member when no executor or administrator has been appointed
A Special Estate Retirement allows the estate of a deceased Union Power member to request an early payout of the member's eligible capital credits instead of waiting for future general retirement cycles, which can be more than 20 years.