Providing for the Ongoing Care of Loved Ones:
Supplemental Needs Trust Services
Supplemental needs trusts provide financial assistance for a beneficiary without disqualifying assistance, such as Medicaid or Supplemental Security Income (SSI).
A supplemental needs or special needs trust is typically established for the ongoing care and well being of family members who may be unable to care for themselves.
Supplemental needs trusts provide financial assistance for a beneficiary without disqualifying assistance, such as Medicaid or Supplemental Security Income (SSI). These trusts contain special provisions specifying that trust assets are to be used to supplement, and not replace, the governmental assistance.
As trustee of a supplemental needs trust, Stifel Trust provides the following services:
- Administration of the trust according to its terms
- Prudent management and safekeeping of trust assets
- Collection of dividends, interest, and other income
- Efficient cash management
- Coordination with a care plan and care professionals
- Payments to or on behalf of the beneficiary
- Preparation of the trust's income tax return
- Tax information for beneficiaries
- Proxy voting and monthly statements
