Who Does the Money Belong To?
Decide whether the money belongs to the individual with a disability or someone else.
The money could come from a variety of sources, such as a will, a life insurance policy, SSI back-payments, a court settlement, a gift, or even cash from a savings account.
We recommend that you seek the independent advice of an experienced estate-planning attorney or certified financial planner. Here is a list of attorneys throughout the state who work with families of persons with disabilities who need estate planning.
Download a copy of the Trust Document and review it carefully.
Once you have determined which trust is right for you, download the corresponding Joinder Agreement and Trust Document. The Joinder Agreement is the legal document needed to establish a Master Pooled Trust sub-account. Follow the instructions included with the joinder agreement and complete the mailing checklist included in the packet. Then mail the completed joinder agreement to The Arc of Texas with a check for the $600 enrollment fee, payable to The Arc of Texas.
The following fees may be charged by The Arc of Texas Master Pooled Trust.
A non-refundable one-time enrollment fee of $600* is due at the time the Joinder Agreement is executed. The enrollment fee covers the cost of opening a Trust sub-account for the Beneficiary.
There is no annual renewal fee before the sub-account is funded.
After the sub-account is funded, the following annual fees are due. Although annual fees may increase or decrease over time, you will never be required to pay a higher fee than the rate that is applicable at the time your account is funded.
The Trustee and the Manager have authority from time to time, as necessary, to assess all sub-accounts or certain sub-accounts with special assessments for specific costs such as the cost of defending a sub-account of the Trust, or taking actions to preserve a beneficiary’s Government Assistance. See Section 7.9 of the Trust Agreement for a description of possible defense costs.
Annual Consultation fee:
Annual Maintenance Fee:
1. $150 for accounts with 24 disbursements or less in a year;
2. $300 for accounts with more than 24 disbursements in a year;
3. Up to $500 for accounts with additional complexities, including supplementary requirements
by the court or items outside of the trust that must be accounted for
Decide whether the money belongs to the individual with a disability or someone else.
• From a lawsuit settlement • From an SSI or SSDI back payment • Child support • An inherence left directly to the individual with a disability or there was no will and the individual will receive money • Savings of the individual • Money being held by a third party that belongs to the individual with a disability.
All trusts protect benefits
Discretionary trusts allow for more flexibility. If it is appropriate for the beneficiary's situation, both basic support and supplemental payments may be paid for out of the sub- account. Discretionary trust potentially allow for housing or food to be paid.
Supplemental trusts allow disbursements to be made only for supplemental needs, which include most items that are not food or housing costs. No matter the circumstances, food and shelter will not be paid for out of the sub-account.
• Money from a parent, grandparent, aunt, uncle, other family, friends, or other third parties • Left to trust in a will • Life Insurance left to a trust • Retirement plan left to a trust • Any other cash that is not being held by or belongs to the person with a disability.
All trusts protect benefits
Discretionary trusts allow for more flexibility. If it is appropriate for the beneficiary's situation, both basic support and supplemental payments may be paid for out of the sub-account. Discretionary trust potentially allow for housing or food to be paid.
Supplemental trusts allow disbursements to be made only for supplemental needs, which include most items that are not food or housing costs. No matter the circumstances, food and shelter will not be paid for out of the sub-account.
After the account has been funded, the Primary Representative will receive a copy of the toolkit that outlines how to use a trust sub-account with The Arc of Texas Master Pooled Trust. The primary representative will also receive Quarterly statements, showing the disbursements, investment performance, and fees.
If you are not funding the sub-account right away, the Grantor (the person who established the trust) will receive an Enrollment Guide which should answer most of the questions regarding funding the sub-account and other basic information on how the Trust works. This will prepare the Grantor, the Primary Representative, and the Beneficiary to use this sub-account to improve the quality of life and ensure a successful future for the Beneficiary.