Special Needs Trust Administration

Special Needs or Supplementary Needs Trusts allow for the establishment of accounts to benefit individuals with lifelong disabilities without impacting their eligibility for government benefits, including SSI and Medicaid. Congress established statutory authority for Special Needs Trusts with the passage of The Omnibus Budget Reconciliation Act of 1993. Funds held in trust are used to improve the beneficiary’s quality of life. Common uses of trust funds include transportation costs, counseling/therapy, medical expenses, clothing and computer and electronic equipment.

Our experienced and compassionate staff is familiar with managing the trusts according to the established guidelines. We work with family members to establish a life expectancy budget for each client and help to establish a well-balanced lifestyle. We work with expert legal and financial advisors to optimize the trust’s benefit. Our Trust team works in tandem with our Care Management staff to ensure that all community based and private services are made available to our clients.PLAN can also provide Individualized Care Management to complement our Trust Administrative services.

The minimum contribution to open a PLAN of PA trust account is $5000. Each new trust is subject to an initial set up fee of $750 and an annual administrative fee, based on a percentage of assets in the trust. We can provide a Master Trust Agreement, or administer a customized agreement prepared by client’s counsel. Copies of our Master Agreement and Schedule of Fees are available upon request.We encourage thorough review of all materials in consultation with Financial and Legal Advisors.

 

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