How can the trust be funded?

The most common way to fund the Third-Party Pooled Special Needs Trust is through the Grantor’s will, estate plan, life insurance policy or employee benefit.  The trust may also be funded by a gift, bequest, or inheritance directed to the trust by a family member or friend.

Checks can be made payable to TCVA for deposits to the trust at any time.  Real estate or other non-cash assets are not accepted, since the funds must be pooled for investment purposes.

The following resources may also be helpful in determining how much to allocate to a special needs trust.

  1. Budget and Expense Worksheet: This annual budget worksheet can be helpful in making decisions about how to use funds from the trust. The estimated costs per year should be based on how many years you anticipate the trust lasting.
  2. Special Needs Planning Calculator: This calculator, provided by MetLife, is intended to help you project the future expenses for the individual with special needs.
  3. How to Assess Future Life Needs for a Loved One with a Disability: This article was written by CCT Executive Director, Joanne Marcus, MSW, for the Special Needs Alliance.

It is helpful to consult with an Estate Planning Attorney who is familiar with special needs trusts when writing your estate plan or will.  CCT can provide the Master Trust Agreement and suggested language and is available to assist with questions that you or your attorney may have.