Trustee Services for Individuals with Special Needs
Managing the assets in a special needs trust requires a high level of expertise and a lot of time. Time to work with accountants, attorneys, financial advisers, care managers and others who can provide counsel as laws and circumstances change.
What's involved in the management of assets? Take a look:
- Preserving and maximizing benefits
- Personal advocacy
- Investing funds
- Financial accountability
Is this something you have time for? Do you have the knowledge or experience to make the financial decisions that could potentially impact a beneficiary's security and quality of life?
Consider asking us to be your trustee.
We are one of the few special needs planning firms in Connecticut with its own trust department. We both draft and administer special needs trusts - from the simple to the complex.
In fact, many of our clients with special needs ask us to serve as trustee. It makes perfect sense - we already worked closely with them in drafting the special needs trust agreement - we understand their particular needs and can tailor our advice and recommendations accordingly.
We know that the best way to serve you is to know you. And to communicate often. In doing so, we grow close to the beneficiaries and learn all about their needs and desires, which is why many Connecticut residents choose us as trustee.
Here's how our trust department will serve you:
- Get to know the beneficiary to ensure his or her needs are met
- Communicate frequently with the beneficiary about trust activities
- Monitor the laws and public policies affecting trusts
- Process income, collect assets, make distributions
- Pay debts, expenses and taxes
- Select and work closely with a financial advisor
- Create accountings and financial reports to the beneficiary and others
- Prepare budgets and update financial projections
- Coordinate and file trust income tax returns
- Develop lasting relationships with other professionals such as care managers and patient advocates to fully understand a beneficiary's circumstances.