When it comes to American Airlines Federal Credit Union member-owners and their accounts, planning ahead goes way beyond which products to select. Supervisor Brenda Skinner-Moore leads the Member Care Services team at the headquarters in Fort Worth, handling accounts where the primary owner has passed away and making sure members have properly planned when it comes to designated beneficiaries.

“It’s true that the discussion of death can be uncomfortable, but having your wishes prepared in advance can bring peace of mind and help to minimize confusion for loved ones during a very difficult time,” she says.

A 19-year veteran of the Credit Union, Skinner-Moore has helped many members through trying times. “As our scope of membership spans beyond active or retired employees of American, US Airways and Envoy, to include most in the air transportation service and all of their families, the lack of beneficiaries or the challenge of accounts that are not updated with current beneficiaries, is one of the biggest obstacles for the settlement and close of the deceased account,” she says.

Skinner-Moore says to consider the following tasks to prepare for the future:

-Update beneficiaries upon the birth of a child or addition to the family.
-Appoint a guardian when designating a minor child as beneficiary.
-Update the beneficiary upon the death of a spouse or joint owner.
-Update the beneficiary upon divorce.
-Update the beneficiary for all your assets: IRAs, 401(k)s, 403(b)s and other employee retirements; life insurance (including employer provided); Credit Union and bank accounts; real estate and investment properties and business interests.
-Review beneficiaries on an annual basis.

“Stay in control of who inherits your assets by updating beneficiary designations for every life event,” she says. “Your family members will be eternally grateful for your forethought and consideration for having a plan in place.”

Members can update their beneficiaries online, by mail or simply by visiting a Credit Union branch.

- James Mayfield