Trusts
As a Special Needs Trust provider, we administer d(4)(C) Pooled Trusts, Third-Party Pooled Trusts, d(4)(A) disability trusts, Third-Party Supplemental Needs Trusts drafted by attorneys. and individual trusts. We are also the administrative trustee for the State of Florida’s d(4)(C) Florida Public Guardianship Trust.
First-Party Trusts
AGED d(4)(C) Pooled Special Needs Trust
Pooled Trusts, or d(4)(C) Trusts, have no age restrictions and can be established by anyone, as long as the income or assets used to fund the trust belong to the disabled beneficiary. Pooled Trusts must be established and managed by a nonprofit organization, like AGED Trust.
A d(4)(C) Trust:
- Can be used by individuals of all ages
- Contains income, assets, or both
- Allows for unlimited funding without maximums or minimums
- Pays for items not covered by government benefits, such as living expenses, utilities, medical expenses, and more
- Is established by a parent, grandparent, legal guardian, the court, or the disabled individual with assets owned by the disabled individual
- Upon death, funds in the trust can be left to heirs after Medicaid is paid back, or funds can be retained by AGED as surplus trust property and used for other disabled beneficiaries or for other purposes as outlined in the Master Trust
Since a Pooled Special Needs Trust is a legal instrument, we recommend consulting with an Elder Law Attorney to determine if a Pooled Trust is a good fit for you. If you do not have an attorney, please visit www.AFELA.org.
Discounted Pooled Special Needs Trusts
AGED Trust recognizes that there are individuals in Assisted Living Facilities, Group Homes, and Nursing Homes with limited resources who still need access to important benefits and services. That’s why AGED Trust offers discounted fees for individuals with limited resources in a facility.
These discounted trusts follow the same rules as our d(4)(C) Pooled Trust.
Discounted Nursing Home and Assisted Living Facility Pooled Trust
For individuals who reside in a Nursing Home or Assisted Living Facility with assets less than $5,000. Must be on, or applying for, ICP or HCBS Medicaid.
AGED Group Home Pooled Trust
For individuals with special needs who reside in a Group Home, AGED Trust has reduced our fees to ensure this population can retain hard-to-get APD and Medicaid benefits.
The Florida Public Guardianship Pooled Special Needs Trust
Founded by The Foundation for Indigent Guardianship (FIG), a direct support organization of the Florida Department of Elder Affairs (DOEA) as provided by Florida Statute Chapter 744.2105. FIG operates exclusively for the direct or indirect benefit of DOA and the Office of Public and Professional Guardians (OPPG).
In 2006, FIG founded The Florida Public Guardianship Pooled Special Needs Trust (FIG Trust) for the purpose of helping people with disabilities qualify for or maintain means-tested public benefits such as Medicaid, Supplemental Security Income (SSI), food assistance and public housing while potentially benefitting Florida’s statewide public guardianship program with the residual funds left in a FIG Trust upon the death of a beneficiary.
This unique difference from other pooled special needs trusts ensures residual funds come to FIG as the Founding Trustee which are then used to provide assistance to other public guardianship programs, other persons under public guardianship, complimentary educational opportunities for the staff of public guardianship programs, and help raise public awareness about the needs of public guardians and those they serve.
Retained funds go directly to FIG to provide assistance to other public guardianship programs throughout the state, other persons under public guardianship, educational opportunities for staff of public guardianship programs, and to help raise public awareness about the needs of Public Guardians and those whom they serve.
AGED Trust is the administrative trustee for the Florida Public Guardianship Pooled Special Needs Trust.
d(4)(A) DISABILITY TRUSTS
A d(4)(A) Disability trust is established by disabled individuals under 65 who need to qualify for or protect government benefits like Medicaid. A d(4)(A) Disability Trust is generally drafted by an attorney, but can be managed by an individual, corporate, or nonprofit trustee. AGED Trust manages independently drafted d(4)(A) disability trusts.
A d(4)(A) Trust:
- Is established by a parent, grandparent, legal guardian, the court, or the disabled individual
- Funded with assets of the disabled individual before the individual turns 65
- Contains income, assets, or both
- Pays for items not covered by government benefits, such as living expenses, utilities, medical expenses, and more
- Upon death, funds retained in the trust are used to payback Medicaid first, and then to heirs as outlined in the trust documents
Since a d(4)(A) Disability Trust is a legal instrument, we recommend consulting with an Elder Law Attorney to determine if a d(4)(A) trust is a good fit and to draft the trust documents. If you don’t have an attorney, visit www.AFELA.org.
Third-Party Trusts
AGED Pooled Third-Party Supplemental Needs Trust
Third-party trusts are designed to hold gifted or inherited assets from a third party, such as a parent or grandparent, left to an individual with special needs.
A third-party trust is simpler and less costly to establish than a first-party trust since it is typically not subject to court approval. It also has the advantage of allowing other people, such as grandparents, siblings, or anyone else other than the disabled beneficiary, to add assets to the trust.
A Third-Party Trust:
- Is established by someone other than the disabled beneficiary, for an individual with disabilities of any age, there are no age restrictions
- Contains assets, only
- Allows for unlimited funding without maximums or minimums
- Is used to pay for specific items outlined in the trust documents
- Can be managed by an individual or corporate trustee
- Upon death, any retained funds are used to pay heirs or is paid out as outlined in the trust documents
Since a Third-Party Trust is a legal instrument, we recommend consulting with an Elder Law Attorney to determine if a Third-Party Trust is a good fit for leaving funds to a loved one with disabilities. If you do not have an attorney, please visit www.AFELA.org.
Third-Party Individual Trusts
AGED can serve as trustee for individual third-party trusts drafted by attorneys.