Third-Party Pooled Trusts
Sources of Funding – A Third Party Trust account is one that is funded by a parent, grandparent, sibling, guardian, friend, or other person for the disabled individual’s sole benefit.
This type of trust account enables family and friends to set aside funds for a disabled loved one in order to provide for their present or future supplemental needs.
Timing of Trust Funding – Third Party Trust Accounts can be funded immediately, or established today and funded at a future date through your estate plan.
Remainder Designation – Trust Sponsors enjoy additional flexibility with the choice of designating family members to inherit any funds which remain in the beneficiary’s pooled trust account upon their death.
Preservation of Government Benefits – Establishing a Third Party Trust account will not jeopardize eligibility for government benefits.
Dedicated Professionals & Personalized Service – CLC Foundation’s dedicated team of professionals has more than twenty (20) years of experience in Supplemental Needs Trust Administration and is committed to putting your loved one’s needs first.
At CLC Foundation, our clients represent our highest priority and we are committed to providing superior individualized service to trust beneficiaries.
Trust Funds – Trust funds can be utilized to purchase a variety of good and services not covered by their other benefits including daily household expenses, recreation, vacations and unreimbursed medical expenses.
Private Supplemental Needs Trusts
CLC Foundation, Inc. can serve as Trustee of your Private Supplemental Needs trust or as Trust Administrator. Private trust accounts are governed by separate trust agreement and are not part of a CLC pooled trust.
Naming CLC Foundation as your professional Trustee or Trust Administrator relieves your family from many regulatory burdens and ensures continuity in management of the account should family members become unwilling or unable to act in a fiduciary capacity in the future.
CLC Foundation’s fee structure is often lower than what a traditional bank would charge to serve as a private Trustee.
Any funds which remain in a Third Party Trust Account upon the beneficiary’s death may be left to the Grantor’s family or other individuals or entities of their choosing.