What can be placed in the trust?
Cash, securities and liquid assets.  The trustee has the right to convert all non-cash assets (real estate, personal property) to cash in the best interest of the individual.Â

Does the Trust earn Income?
The investment objective is to return between 4% to 7% per year.  The cost to manage and administer the trust is 2% per year.  At a 4% return, the funds in the trust will grow at 2% per year.  Taxes, if any, are paid from the client's trust account. The individual can earn up to $17,000 of income without incurring a federal tax bill.

How are the funds invested?
The Trustee of the Special Needs Pooled Trust makes the investments decisions.  The AmeriServ Co-Trustee provides recommendations and advice to the Trustee.  The criterion for investment is that the investment must be what a prudent investor would choose. Funds are placed only in fixed instruments, such as bonds; or in liquid instruments such as cash. 

How does an individual gain access to funds in his/her trust?
A request is made to the Trustee by the caregiver for a specific need.  The Trustee reviews the request to ensure that it meets state and federal requirements for distribution.  The Trust Company will then issue a check and send it to the appropriate vendor. 

Are contributions to the Trust Tax deductible?
No. 

How quickly can a Client Trust be established?
The amount of time to establish a trust depends upon the cooperation of the person who wishes to establish the trust.  The person establishing a Client Trust must read the trust document, sign a Grantor agreement, and submit a check as the first deposit.  The trust can be established the day after receiving the grantor agreement and check. 

What is the cost of establishing and maintaining the agency's Special Needs Pooled Trust?
The cost to adopt the Prototype Trust for an agency is $575.

What is the cost of enrolling a client in the agency's Special Needs Pooled Trust?
The cost to enroll a client is $275.