Which Trust Will Work For You and Your Loved One?

A Special Needs Trust is a very specific kind of trust that offers the option of keeping someone eligible for public benefit programs while also receiving the benefit of a supplemental fund.  This supplemental fund can pay for an entire range of services and goods that are not covered by public programs.

Special Needs Trusts can be established with funds that belong to the person who is receiving public benefit programs or with funds that belong to someone else such as one or more family members.  Different rules will apply depending on whose funds are used to establish the Trust, but the person receiving public benefits will still receive the benefits from the Trust no matter which rules apply, so long as the Trust’s rules are followed.

There are several kinds of Special Needs Trusts with different names, but they all share the common trait of maintaining eligibility for asset-tested public benefit programs.  The names that are used to describe these different kinds of Special Needs Trusts can be confusing, but they do not need to be.  Just keep in mind that there are only three different kinds of Special Needs Trusts, and they are not confusing if explained in plain English.

Once you have reviewed the various Trust options, your next step is to tell us about the beneficiary and contact either an attorney or complete the Pooled Trust Joinder Form. If you need assistance or have questions please contact us through the form below or give us a call (610) 265-4700. We are happy to assist you!

Day-to-Day with ACT

Our day-to-day special needs trust services include, but are not limited to:

  • Supervising all aspects of the trust and at all times acting in the beneficiary’s best interests;

  • Offering a line of defense against undue influence from existing friends or family, outside caregivers, and new friends who may suddenly appear once a trust is funded;

  • Abiding by the terms of the trust and reviewing each distribution against a standard of “reasonableness”;

  • Taking custody of cash, maintaining transactional records for receipts and disbursements, preparing tax letters and tax returns for the trust, issuing account statements and providing accountings as required by the court as well as other outside authorities;

  • Monitoring and reviewing the performance of the investment manager and making changes that are in the best interests of the beneficiary;

  • Coordinating the payment of bills and expenses, and taking charge to follow through on implementing many of the services outlined in a care plan for the beneficiary;

  • Maintaining relationships with other service providers in an effort to contain costs, including public benefit agencies and medical cost containment companies;

  • Determining if it is necessary to purchase a vehicle or house and identifying the specific needs as well as coordinating the purchase;

  • Coordinating payroll for caregivers recommended by a case manager, if such services are not provided by a private agency or Medicaid; and

  • Supporting the implementation of recommendations made by a case manager to enable the beneficiary to receive the highest quality of care.

Special Needs Trusts

Self-Funded
Third Party Funded
Pooled
Education

Get in touch and we’ll get back to you as soon as we can.  We look forward to hearing from you!

Contact ACT Today