In this episode of CONNECTED with Mika:
- Navigating Through the Ins and Outs of Special Needs Trust Planning (Part 2)
- Don’t let what you don’t know about special needs trusts, derail your loved one’s financial future.
In this two-part series, Mika speaks with Haley D. Greer, J.D., The Arc of Texas’s Director of The Master Pooled Trust. In these episodes we discuss why a person with disabilities will most likely need a Special Needs Trust, how many types of trust are there and which one to use.
Founded in 1950 by a group of parents of children with intellectual and developmental disabilities, The Arc of Texas has been instrumental in the creation of virtually every program, service, right, and benefit that is now available to more than half a million Texans with intellectual and developmental disabilities. Today, The Arc of Texas continues to advocate for the human rights and self-determination of people with intellectual and developmental disabilities in all aspects of society.
One of the services The Arc of Texas offers is a Master Pooled Trust. A Mastered Pooled Trust is a pooled special needs trust managed by The Arc of Texas with approval from the Social Security Administration and the Texas Health and Human Services Commission. The goal of the Master Pooled Trust is to provide financial security to all people with disabilities, and thus a higher quality of life, knowing that their public benefits are safeguarded.
The Master Pooled Trust was designed with lower fees and low minimum deposits. The low fees for establishing and maintaining a sub-account are attractive to families and beneficiaries, compared to a traditional bank trust. There are low minimum and no maximum limits on an account with the Master Pooled Trust. The Arc of Texas also knows and understands the issues families with disabilities face so we make accessing the money an easy process.