Creating & Managing Special Needs TrustsSpecial Needs Trusts (SNTs) provide critical financial support to those with life-long severe or catastrophic injuries. A properly created and managed SNT allows money from a personal injury settlement to be set aside for medical care and day-to-day living support without the injured individual losing or being disqualified from receiving government benefits. To be eligible a “Pooled Trust” must be created for the injured party.

Pooled SNTs

According to the State of California, “A Pooled Trust can be established for a disabled individual of any age, and must be established and managed by a non-profit association. A separate account is maintained for each beneficiary, but funds are ‘pooled’ together for investment purposes.”

I’ve found CPT Institute to be one of the most efficient and cost-effective means to create pooled trusts for injured clients. Here’s what the firm offers:

  • Ability to use one trustee nationwide for settlement management & Special Needs Trusts
  • Trust accounts set-up via phone or onsite in 45 minutes
  • No minimum trust seed or funding amount
  • Online client portal to access balances and statements
  • Android & IOS applications to submit disbursement requests
  • True Link Financial manages Visa cards to access trust funds
  • TEAM Risk handles all employees paid from the trust
  • Schwab manages assets in SIPC-insured accounts up to $500,000

The SNT must be set-up in advance when funds are being structured.

If you’re wondering whether a client needs a trust or qualifies for a certain type of trust, don’t hesitate to call CPT directly (855-278-7681) or myself. –Pat

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