Setting Up A Trust With Plan
The process for creating an account generally takes 2-3 weeks and includes the followings steps:
- Trustor and beneficiary fill out the forms in the new client packet.
- Trustor submits a signed and notarized Contract (pdf), Joinder Agreement (pdf) and the enrollment fee.
- The Executive Director of PLAN of Arizona signs and notarizes the Contract and the FIB&T officer signs and notarizes the Joinder Agreement. PLAN mails signed copies back to the family.
- If the Trustor chooses to fund the account immediately, he or she submits the check ($5,000 minimum) to fund the account.
- PLAN of Arizona will submit the new account paperwork and check to FIB&T to establish the trust sub-account.
- PLAN of Arizona will forward the account confirmation materials to the Trustor and/or Trustor’s attorney.
- The PLAN of Arizona Support Coordinator assigned to the beneficiary contacts the Trustor(s) to schedule an introductory meeting to review the Disbursement Guidelines and explain how to access trust funds, as well as assist in developing the Life Plan if one has not yet been completed.
Deferred Funding of the Trust
Often times family members will provide in their estate plans for individuals with disabilities, a bequest to a Special Needs Trust in their will or Revocable Living Trust, when there is a need to protect eligibility for public benefits.
Sample Language: “I hereby give (describe the gift) to the PLAN of Arizona Third Party Special Needs Trust, dated February 15, 2014, as Amended, to be administered for the benefit of (Beneficiary) pursuant to the terms of said Trust which I fully incorporate herein.”
A copy of the document and Trustors Intent Form should be maintained at PLAN.
- The family fills out the forms in the new client packet and signs the service contract.
- Submits a retainer (amount to be determined) to begin services.
- The PLAN of Arizona Service Coordinator assigned to the beneficiary contacts the family to schedule a meeting to review the Contract and Disbursement Guidelines and develop a budget.
For Individual First Party Trusts:
Please call the PLAN office to discuss your options.
We know that the decision to join one of the Special Needs Trusts is an important one. We encourage you to discuss this option with your own attorney. Please contact us if you have questions or need additional information as you make your decision.