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Finances: Financial Planning (Trusts)
Note: NHU does not endorse any of the following service providers. These listings are meant for informational purposes only.
National Financial Firms
Mass Mutual Financial Group, via their Special Care Program, offers specialized planning services to families including a per son with a disability. They also offer a number of educational materials. For more information, visit their website and search for "special care".
Merrill Lynch and Co., via their Special Needs Financial Services, offers several services for clients with disabilities and their families. Their financial planning services address the long-term financial needs of a child or loved one with a disability. To locate a specially trained Advisor in your area, call (877) 456-7526.
Met Life Inc., via MetDESK®, MetLife's Division of Estate Planning for Special Kids, helps families who have children and other dependents with special needs through the maze of legal and financial complexities surrounding planning for the future. Through education, MetDESK helps secure not just lifetime care but quality of life. MetDESK addresses such critical issues as:
How to protect eligibility for important government benefits such as Supplemental Security Income (SSI) and Medicaid
Ways in which special needs trust can provide lifetime care while still preserving government benefit eligibility
Selecting appropriate funding vehicles to fund special needs trusts, including life insurance
Choosing a trustee, guardian or conservator.
For more information, visit MetDESK online.
National Resources
Special Needs Advocates for Parents, a non-profit organization, offers information and referrals to parents concerning Special Needs Estate Planning. They can refer parents to their network of trained special needs planning experts. In addition, they offer informative materials and workshops, nationally, regionally, and locally, on special needs financial planning topics. For more information, call (888) 310-9889
Alabama
Alabama Family Trust is a program established by the Alabama legislature in 1994 to supplement the care, support, habilitation and treatment of persons who have a mental or physical impairment. Setting aside funds in the trust will not jeopordize eligibility for federal benefits programs. For more information, call (800) 711-1303.
Colorado
Colorado Fund for People with Disabilities (CFPD) establishes pooled trusts on behalf of people with disabilities. Trusts help protect an individuals eligibility for federal benefit programs. Funds are utilized to provide for the supplemental needs of the person with a disability. Supplemental needs are products, goods or services not provided through any public benefit the beneficiary may be receiving. Examples are a home, durable medical goods, vacations, a vehicle, companion services and others. For more information, call (303) 733-2867.
Florida
First Florida Pooled Trust is a Special Needs Trust for persons with disabilities. The Family Network on Disabilities of Florida, Inc. (FND) serves as the non-profit trustee of the Trust. By joining the First Florida Pooled Trust, persons with disabilities can save while preserving much-needed assets and still qualify for public benefit programs. The money placed in the Trust can still be used to improve a person's quality of life. For more information, visit the FND wesbsite or call (877) 655-8472.
National Special Needs Network Inc., located in Coral Springs, Florida, is overseen by Jeffrey H. Minde, an Attorney and Counselor At Law P.A. He offers a full range of services for individuals with disabilities and their families. He can assist you in establishing a Special Needs Trust. For more information, visit his website, or call (954) 345-6465.
Georgia
Georgia Community Trust is the only community trust in the State of Georgia to assist families in planning to provide financial assistance to a family member with a disability. Assets transferred to the Trust and earmarked for the intended beneficiary, are not considered assets of the beneficiary for the purposes of SSI and Medicaid. Disbursements are made to improve the quality of life for the beneficiary, without affecting an individuals eligibility for government benefits. Expenditures cannot be made for basic food, clothing or shelter. For more information, call (770) 431-7070.
Massachusetts
Special Needs Planning is a financial consulting firm specializing in planning for longterm financial security of those with disabilities. They offer individual consultation on an hourly fee basis, asset management (fees based on a percentage of assets under management) and financial plan development for a flat fee. Their website features informative articles, a financial planning checklist as well as a number of helpful resources. For more information, call (781) 893-0909 or e-mail info@specialneedsplanning.com.
Missourri
Missouri Family Trust offers a way for families to contribute to the care and quality of life for their loved ones without risking the loss of vital government funding, such as Medicaid and Supplemental Security Income. They also offer a Charitable Trust, which is funded through contributions and is administered by the Family Trust Trustees. This trust is used to provide benefits to indigent persons who are disabled and whose families cannot afford to establish an individual trust. Administrative fees apply. For more information, visit their website, call (888) 671-1069 or e-mail mftbt@aol.com.
Ohio
Community Fund Management Foundation (CFMF) is a non-profit, organization that administers trust programs for Ohio residents with disabilities. Trust accounts can be established by persons with disabilities or their family members and friends. As the Trust Advisor, CFMF monitors the distribution of monies from each trust account so that government benefits are not jeopardized. A review committee evaluates all requests for distributions from an individual's trust to make sure that a distribution will not jeopardize government benefits that are applied for or currently being received. Distributions from a trust are made to pay for supplemental services, which are those items or services that will not be paid for by a government agency, but can enhance the quality of life for an individual with a disability. To learn how you can set up a trust account, call (216) 736-4540.
Oregon
The Arc of Oregon Pooled Trust Fund provides a means to meet the supplemental needs of a person with a disability beyond the basic needs such as food, housing and medical care that governmental benefits such as Supplemental Security Income and Medicaid are intended to provide. Funds stored in a trust on behalf of a person with a disability may cover such items as insurance premiums, education, supplemental nursing care, eyeglasses, travel, entertainment, reading materials, vacations and telephone service, without jeopardizing an individuals eligibility for government benefits. Trusts are funded with the person's own money or with money from a friend or family member. For more information about The Arc of Oregon Pooled Trust Fund and how it can benefit you or your family member, please contact the Arc of Oregon, 1745 State Street, Salem, OR 97301 or call (877) 581-2726.
Virginia
Commonwealth Community Trust (CCT) was established for Virginia residents to provide a convenient and economical way to have trust funds administered for people with disabilities that will supplement the benefits offered by entitlement programs. Their mission is to enhance government programs for the lifelong special needs of the beneficiary so that he or she can live securely. Annual administrative fees apply. For more information, visit their website or call (888) 241-6039.
Washington
Washington State Developmental Disabilities Endowment Trust Fund, developed by the state legislature, provides an attractive and convenient way to save for the future of your loved one with a developmental disability. The fund protects beneficiaries’ eligibility for public benefits, such as Supplemental Security Income and Medicaid. The state will also provide up to $7,750 in matching funds per beneficiary, by providing a 25 percent match on private contributions. For more information, call the Arc of Washington State at (888) 754-8798.
Wisconsin
ARC Milwaukee U.S. Bank Community Trust offers a feasible way for people with developmental disabilities and their families to save money without jeopordizing their government benefits. Funds can be used for many different reasons, including, buying a home, taking a vacation, purchasing equipment, or to pay for in-home assistance, among others. To learn more, call ARC Milwaukee at (414) 774-6255.
Wisconsin Pooled and Community Trusts or WisPACT trusts provide for the special needs of persons with disabilities without endangering their eligibility for public benefits or placement on waiting lists. Their website offers a very helpful FAQ section. For more information, visit their website or call (608) 268-6006.
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© Copyright 2005, New Horizons Un-Limited Inc.
[Updated April 30, 2005]
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