Wispact pooled trusts
Pooled trusts administered by Wispact are our most popular type of special needs trust and are our general recommendation for people who plan to give less than $500,000 to a trust fund for a person with a disability at death.
Benefits of Wispact trusts
There are good reasons for this. Benefits of a Wispact trust include:
Administration by a professional trustee. A professional trustee will never get sick, pass away, or have to choose between their duties as trustee and maintaining a family relationship with the beneficiary. They also will easily handle tax filings, distribution decisions, and so on.
Professional investment management. The trustee is a professional held to high standards in investment management. They will choose a conservative investment strategy and implement it well.
Grants. Having a Wispact trust allows the beneficiary (or someone acting for the beneficiary) to apply for cash grants for items the beneficiary may need that are not covered by medical insurance. This is true even though the trust may only have a small amount in it initially.
Getting Started
As with all of our planning, plans that include a special needs trust start with a no obligation consultation with an attorney. To get started, call our office to schedule your consultation. We look forward to working with you!