Montana Families Trust Overview
Plan for Your Future through a Pooled Asset Special Needs Trust
What is a Special Needs Trust?
A Special Needs Trust is a legal document that protects the assets of an individual with a disability and allows them to maintain their eligibility for government benefits such as Supplemental Security Income (SSI) and Medicaid. A Pooled Trust is one type of Special Needs Trust.
Why Should I Establish a Pooled Trust?
A Pooled Trust allows an individual with a disability to protect their assets, avoid a spend down of funds, and maintain eligibility for government benefits. Funds in the trust can be used to pay for supplemental needs such as medical and dental care, therapy, adaptive equipment, transportation, recreation, and more.
What Can the Funds in the Trust be Used For?
Trust funds can be used for a wide variety of goods and services to enhance the beneficiary’s quality of life. These may include:
- Personal care attendants
- Home modifications
- Medical and dental expenses
- Education and training
- Computers and electronics
- Vacations and travel
- Furniture and appliances
- Recreation and entertainment
How are Trust Funds Managed?
Funds are professionally managed and invested. Each beneficiary has a sub-account that is pooled for investment purposes. The Trust uses an accounting system that tracks the activity in each beneficiary’s account separately. Requests for distributions must be submitted to the Trust for review and approval.
How Do I Establish a Pooled Trust Account?
To establish a Pooled Trust account, the following documents must be completed:
- Joinder Agreement (to be signed by the individual, parent, grandparent, guardian or court)
- Deposit Form
- Release Form
- Payment Authorization Form
Our Trust administrators can assist in completing the forms and answer any questions you may have. Once the paperwork is completed and funds are received, an account will be established.
Can Someone Help Me Decide if a Pooled Trust is Right for Me?
Yes! RDI staff are available to explain your options and help you decide whether a Pooled Trust is the right choice. We offer free consultations to families, individuals, and professionals.
GET STARTED
Contact us to learn more or to schedule a free consultation.
Email:
trust@ruraldynamics.org
Benefits of the Montana Families Trust Program
- Helps maintain eligibility for SSI, Medicaid, and waiver services.
- Avoids unnecessary spend down of assets.
- Provides flexibility and peace of mind for families.
- Accounts can be opened quickly using standard documents.
- No need for a successor trustee.
Eligibility
Individuals are eligible to open a trust account with this program if they meet two conditions at the time of enrollment:
- Reside in the State of Montana.
- Meet the state definition of disabled, including developmental disability, or otherwise eligible for services from the Department of Public Health and Human Services.
