The Board of The ARC of Georgia is pleased to announce the creation of The ARC of Georgia Pooled Trust. The purpose of this special needs pooled trust is to help families use funds wisely to provide the highest quality of life for a family member with a disability.
The three primary objectives of the ARC of Georgia Pooled Trust are:
To provide for the needs of an individual with a disability.
To maintain eligibility for public assistance.
To help manage and preserve /preserve family assets.
Oversight of the trust is by The ARC of Georgia (managing trustee) and FSG Bank of Chattanooga, TN (operating trustee). Fees are $600.00 to open a subaccount with current ARC membership. There are also some ongoing fees which are outlined in their materials.
Operations of the trust are as follows:
1. Administration of one trust for management and investment purposes, with a separate account for each beneficiary and net income allocated to individual accounts.
2. The donor appoints a liaison/co-trustee to assist the trustee of pooled trust, usually a family member. This family member requests expenditures for the beneficiary.
3. At the death of the beneficiary, remaining assets in the beneficiary’s account pass to one or more remainder beneficiaries named by the donor (if a 3rd party trust) or to pay back Medicaid (if a trust in the beneficiary’s name).
There are several advantages to a pooled trust, including personal attention from your trust representative, comfort in knowing that your loved one’s needs will be met when you are gone and strategies that combine money markets, stocks and income funds to fit investor’s needs and risk tolerance. A pooled trust provides middle income families the opportunity to participate without the substantial assets required by some wealth management services.
For more information visit www.arcgatrust.org
