Delivering on the Unique Nuances of the Special Needs Trust

Date: June 21, 2023

Speaker:  Michelle Diamond, Chief Development Officer, Cumberland Trust

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Managing uncertainties that come with caring for a loved one with a disability can be financially and emotionally taxing. Persons with intellectual and developmental disabilities may be eligible for critical assistance through means-tested public benefits. However, if the individual has accessible funds, he or she can lose that assistance or fail to qualify. A Special Needs Trust allows those funds to benefit the individual and supplement means-tested public benefits (e.g., Supplemental Security Income (SSI) or Medicaid) while maintaining the integrity of the capital. Many corporate trustees may not have the flexibility to properly manage the hands-on, nurturing work that goes into Special Needs Trusts.

In this session, Michelle Diamond of Cumberland Trust will explain the uniquely elevated level of attention and support that goes into administering a Special Needs Trust- one that goes beyond the basic duties of traditional trust administration.

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Download the presentation slides here.