IMPORTANT: The following information applies only to the Remainder Policy for the Third-Party Pooled Special Needs Trust.
The Grantor can designate Primary and Contingent Successor Beneficiaries in the Joinder Agreement. For participants of the Third-Party Pooled Special Needs Trust, the Successor Beneficiaries will receive the remainder of funds in the trust sub account upon the death of the Beneficiary. The Grantor can designate one person, several people or a nonprofit organization like CCT to receive a percentage or all of the remainder funds. This information can be updated by the Grantor at any time by completing the Amendment to the Third-Party Pooled Special Needs Trust Joinder Agreement form.
Upon the actual death of the Beneficiary, distributions for CCT and TCVA administrative fees are allowed. After the administrative fees are disbursed, the remaining funds are distributed as designated in the Joinder Agreement.
IMPORTANT! Pre-need funeral and burial arrangements for the Beneficiary should be made and paid for in advance, as disbursements can not be approved once the Beneficiary has passed away.