Special Needs Trusts & Social Support Services
We offer special needs trusts and associated support and management services for individuals living with a physical disability, developmental disability, mental health disability, or age-related disability.
We serve individuals with congenital disabilities (disabilities they were born with) and acquired disabilities residing in Massachusetts and Rhode Island. While our special needs trusts are available to individuals of all ages, many of the individuals employing our services are disabled individuals who are aged 65+.
Whether it be related to a first-party special needs pooled trust, third-party special needs pooled trust, or a stand-alone special needs trust, we describe our approach to managing trusts as “Prudent Stewardship.”
Our most important duty is balancing beneficiaries’ current and future needs while paying strict attention to the complexities of public benefits. To accomplish this, we conduct a client-centric short and long-term needs assessment that includes benefits, routine and other expenses, and an understanding of how this supplemental resource can improve the beneficiary’s quality of life . This information helps develop an appropriate spending plan for the funds in the trust, which we revisit during semi-annual meetings with each of our special needs trust beneficiaries. For those establishing third-party future funded trusts, instead of a spending plan, we work with donors to prepare a Life Care Plan for the beneficiary. Because we specialize in special needs trusts and associated social services (support services) and fiduciary services, we bring knowledge, focus, and experience to each client’s unique situation.
Our all-inclusive special needs planning model includes:
- Review and payment of disbursement requests made by the special needs trust beneficiary or their guardian.
- Professional fund investment
- Annual accounting
- Tax statement preparation
- Service coordination via veteran team of Licensed Social Workers, who are trained experts. Employing licensed social workers who bring great knowledge of, and experience related to, empathetically and effectively supporting individuals with developmental disabilities, or physical disabilities, is a key differentiator from others offering special needs trust administration and oversight.
Why Choose PLAN for Your Special Needs Trust and Social Support Services?:
- We take a holistic approach: From managing disbursements (payments of trust beneficiary expenses) to staying up-to-date on changes in estate planning and public benefits regulations and requirements, we make sure individuals can continue to live well while protecting their access to public benefits, such as social security disability, Medicaid, and Medicare, and preserving their assets.
- We provide peace of mind: Our licensed social workers are knowledgeable and experienced, providing guidance and efficacy to each special needs trust beneficiary.
- We help preserve family relationships: We take care of the regular and often complex financial transactions so you can focus on what matters most.
- We understand specific needs for those over the age of 65: 70% of our beneficiaries are age 65 and older – we are well-versed in the unique challenges that disabled seniors/seniors with special needs face. Depending on the severity/degree of disability, access to the supplemental income associated with the special needs trust, as well as to our licensed -social -worker support services, means that certain of our clients who are seniors living with disability or chronic illness can age at home/age in place.
What Makes PLAN Unique?:
- We are the oldest and largest special needs trust in New England: We were founded by parents of children with disabilities in the late 1960’s and incorporated in 1971. We currently serve over 700 beneficiaries residing in the states of MA and RI and have approximately $65 million in assets under management.
- Dedicated social support service: Our compassionate social workers help our beneficiaries find ways to live well while staying informed themselves on the ever-changing rules of special needs trusts and public benefits.
- No minimum initial deposit required: Beneficiaries can participate in one of our first-party or third-party special needs pooled trusts or stand-alone special needs trusts with any amount of money.