Third Party Trust

Financial flexibility for you—and security for your family

Funded by family members, guardians and others, a Third Party Special Needs Pooled Trust from Life’s WORC puts aside assets for a loved one with a disability—without jeopardizing their Medicaid or Social Security benefits.

A Third Party Special Needs Trust also offers something more: Added financial flexibility for you—and added financial security for other family members. You can choose to fund the trust with today’s dollars or your life insurance proceeds. Any remaining money in the fund at the time of the beneficiary’s passing can be left to anyone you choose. This option is only available with a Third Party Pooled Trust.

The Life’s WORC Third Party Pooled Trust:

  • Can be opened by anyone—parents, guardians, grandparents and others.
  • Can be funded now—or later. This trust does not need to be funded by today’s dollars. Sponsors can fund the trust upon their death by using life insurance proceeds.
  • Can be used for virtually anything that helps enrich the beneficiary’s life from medical expenses that Medicaid or other insurance does not cover to daily living expenses, recreational activities and vacations.
  • Supplements government benefits programs such as Medicaid and SSI. The individual with disabilities will not lose services or benefits due to funding a trust to meet maximum income or resource requirements.
  • Benefits other siblings or loved ones when the beneficiary passes on. This particular option is only available with the Third Party Trust.
  • Is professionally managed by people who care. Life’s WORC staff is responsive to your needs. We also work with Key Private Bank, which has extensive experience in the areas of individual and pooled trusts.

Ready to join the trust? Review these trust documents with your attorney first.

Want to find out more about Life’s WORC Third Party Pooled Trust?

Contact us today