Special Needs Trusts
As a parent of a child with special needs, it pays to protect your
child in the event of your death. A well-planned Special Needs Trust
enables your child to cover his/her immediate needs in the event
something unexpected happens to you. Our Fremont Bank wealth management
team specializes in the setup and administration of Special Needs
Trusts in the greater Bay Area.
What are Special Needs Trusts?
Special Needs Trusts are designed to supplement, not replace, the
kind of basic support provided by government programs like Medical
and Supplemental Security Income (SSI). Special Needs Trusts pay
for comforts and luxuries -- "special needs" -- that could
not be paid for by public assistance funds.
How important is the trustee of a Special Needs Trust?
If money from the trust is used for food or shelter costs on a regular
basis or distributed directly to the beneficiary, such payments
will count as income to the beneficiary. This can affect eligibility
for Medical and SSI. One of the trustee's most important jobs is
to use discretion in making distributions from the trust so as not
to jeopardize the beneficiary's eligibility for these government
benefits.
Why would you want Fremont Bank to be the trustee for your
child's Special Needs Trust?
Our dedicated professionals work closely with each client and family
to provide assistance appropriate for your particular situation.
Depending on your child's needs, we offer services including professional
service coordination, budgeting, bill paying, tax review and insurance
evaluation. Working closely with our clients, their families and
concerned parties, we begin with a thorough assessment of your child's
needs. We'll then create a comprehensive plan detailing suggested
services and approaches for addressing long-term special needs.
At Fremont Bank, Special Needs Trusts are a core capacity and not
an "add-on" service or after-thought.
Contact us at: (800) 400-7067
Trust and Investment Management Services offered through Fremont Bank.
| Not FDIC Insured |
 |
Not Bank Guaranteed |
|
May Lose Value |
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| Not Guaranteed
by any Government Agency |
|
Not a Bank Deposit |
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FIN-0004-0611 |
