Member Estate Capital Credits
WHO GETS MY CAPITAL CREDITS WHEN I DIE?
Capital Credit funds do NOT automatically go to your spouse. The funds will go to whom you have designated based on proper legal documents (Probated Last Will & Testament), your heirs-at-law (as determined by an Affidavit of Heirship) or to whom you have assigned your capital credits.
SO, if you want to designate who receives your Capital Credit amount upon your death, the VTCI member will need to complete a Beneficiary Designation for Capital Credits form. Please be sure to have all the signatures completed by the Member and the form must be witnessed by one other individual when the Member is signing the document.
To begin the process to collect capital credits for a deceased member please click on one of the following Estate Form Letters. If you are an heir of a deceased member and have received either Letters of Testamentary or Letters of Administration from the probate court please select the Estate Pending Letter to review the items that we need completed by you and returned to us for processing a full distribution of the allocated capital credits to the Member’s account.
If you are an heir of a deceased member but do not plan on probating a Last Will & Testament for the deceased or the deceased did not have a Last Will & Testament, then please review and complete our Estate Pending Letter w/ Affidavit of Heirship to begin processing a full distribution of the allocated capital credits to the Member’s account. Please note that the Affidavit of Heirship does require that all signatures be completed before a Notary Public. If you do not have access to a Notary Public, you may visit our office in Raymondville at 881 E. Hidalgo where we have Notary Publics available.
All documentation can be returned in one of three ways:
Physical Mail to:
Valley Telephone Cooperative, Inc.
Attn: Capital Credits
881 E. Hidalgo Ave.
Raymondville, TX 78580
Completed paperwork must be presented to the Board of Directors for approval prior to having the account reassigned to the heirs-at-law. Payment will then be made as normal or, if the heirs wish, a request can be made to the Cooperative for a lump sum payment of the remaining Capital Credit funds in the account. When the Board approves the lump sum payment, the amount is discounted using present value factors in order to determine the net amount to be paid in a lump sum.
If you have any questions regarding Capital Credit Estate Settlements or questions on how to complete an Estate Settlement form, please call 800-446-2031 and ask to speak to Sandra Cabrera, Senior Compliance Analyst / Capital Credits.