Special Needs Trust
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Meet the Team“Our clients appreciate the professional, yet hands-on approach that our advisors employ. They know that they can put their worries to rest and feel confident, knowing that our years of experience arm us with the knowledge and compassion to help their family successfully prepare for the future.” – Ann Sharpe, Esquire – Trustee, Executor, Fiduciary Wealth Management Solutions Team
What is a special needs trust?
A special needs trust is designed to provide support to an individual living with a physical or mental disability. Often resulting from a legal settlement or an inheritance, these types of trusts provide financial support for the individual while maintaining their eligibility to receive benefits provided by public assistance programs, such as Medicaid and Supplemental Security Income (SSI). Funds from the trust can supplement the beneficiary’s government benefits, covering expenses such as caregivers, transportation, and dental or medical expenses not covered by Medicare or Medicaid.
The BSNB Wealth Management Solutions team has the experience, expertise, and insight to help you administer and execute trust plans tailored to your particular needs.
Why choose BSNB to administer your Special Needs Trust?
When considering a special needs trust, an important decision is naming your trustee – the individual or institution who will invest and manage the funds in the trust, according to the terms you specify. Many people seek the expertise and reliability of a corporate trustee, knowing that the trust will be managed in a professional and objective manner. If you’re deciding who to choose as your trustee, turn to BSNB’s professional trust administration services. Many families have relied on BSNB to fulfill this role, recognizing that administering a trust can be time-consuming and requires specialized knowledge and expertise.
Our advisors can help alleviate the administrative burdens associated with managing the trust by providing the following services:- Helping ensure that distributions will not affect government benefits
- Paying bills when appropriate
- Keeping detailed records and providing a statement of account for trust assets
- Ensuring legal and tax reporting is completed each year
And because we serve in a fiduciary capacity, we are legally obligated to act in your best interest.
BSNB Wealth Management Solutions – Your Local Team of Specialists
Funds in the trust are managed by our team of experienced professionals to ensure that your loved one continues to have access to and receive the benefits and services they need now and in the future. By working in conjunction with your team of legal and health care professionals, BSNB will help make sure government benefits are maximized and expenditures from the trust are used prudently to support quality of life needs for the individual with the disability. Our team makes sure your loved one is taken care of by making the sometimes difficult, unbiased decisions about when and where monies should be spent, relieving some of the responsibility from other family members.
Contact Us Today
Planning for your family’s future well-being means making long-range financial decisions now. BSNB is committed to being the partner you can trust, guiding you and working closely with your other advisors on tailored financial solutions to meet your unique needs. We are experienced trust administrators who will help you manage your financial life sensitively and professionally.
| No Bank Guarantee | Not FDIC Insured | Not a Deposit |
| Not Insured By Any Federal Government Agency | May Lose Value including Loss of Principal | |