Frequently Asked Questions
Who can participate in the PLAN of PA Special Needs Trust?
Members of PLAN of PA who develop a Personal Care Plan may take advantage of this service.
What type of trust services does PLAN of PA offer?
PLAN of PA offers individually held special needs trusts, both family settled (third party) and self settled (first party). In some instances, PLAN of PA may be trustee for a non-PLAN Special Needs Trust. PLAN of PA will also be the liaison between a bank/trust company and the beneficiary of a special needs trust.
What is a Special Needs Trust?
A Special Needs Trust is a trust that has as its principal goal to hold assets for a beneficiary without disqualifying him or her from receiving publicly-funded benefits, such as Medicaid.
How much should I leave?
This would depend on the disabled person’s needs and the family’s desire/ability to cover those expenses.
Does PLAN of PA serve as Trustee for Special Needs Trusts?
Yes, PLAN of PA has a Board of Trustees that serves as trustee to the Special Needs Trust.
Do I need a lawyer to establish a Special Needs Trust?
No, you do not need a lawyer. However, a trust is a binding, legal document and advice of counsel is recommended. A copy of all details of the trust agreement is available on your request; you should read it carefully and share it with your legal and financial advisors.
How are requests for disbursements made?
Disbursements are made via a simple “Request for Funds” form or presentation of an appropriate invoice for payment.
What can a trust pay for?
Special Needs Trusts are intended to pay for supplemental needs beyond food and housing. The intention is to enhance the quality of life for a disabled beneficiary.
Trust Services
Special Needs Trust Services
Thanks to PLAN of PA Sam, who has moderate mental retardation and bi-polar disorder, can still have his independence.
He lives in a group home which is staffed 24/7. Every day for four hours he goes to a sheltered workshop. Sam visits local stores, goes to therapy, and hangs out with his housemates. And, once a year, he takes a specially designed vacation for mentally disabled adults.
A Special Needs Trust with PLAN of PA, funded by Sam's family, makes it all possible.
The PLAN of PA Special Needs Trust for the Mentally Disabled allows the establishment of an account for the benefit of a person with a disability. This trust account can pay for supplemental needs while at the same time protecting government benefits such as SSI (Supplemental Security Income) and Medicaid. This is made possible by an act of Congress, The Omnibus Budget Reconciliation Act of 1993. Common purchases by a trust include computer/electronic equipment, transportation costs, counseling/therapy, medical expenses and clothing.
The initial contribution to open a PLAN of PA trust account is a minimum of $5,000. Additional fees apply. The income earned is taxable to the trust account. A copy of all details of the trust agreement is available on your request; you should read it carefully and share it with your legal and financial advisors.