Q & A: Introduction to the State of Florida Public Guardianship Pooled Special Needs Trust

A special needs trust is a legal agreement that helps people with disabilities keep their government benefits while also being able to save money for their needs. It allows them to use the money for things that government benefits don’t cover, without losing their benefits. When the person with the disability passes away, any leftover money in the trust may have to be used to repay the government for the benefits they received. A pooled special needs trust is a big trust with many small accounts, one for each disabled person. It’s run by a non-profit and can accept accounts of any size. An individual special needs trust is just for one person. In Florida, the State Guardianship Office has its own pooled trust to help disabled people have a better life. The Foundation for Indigent Guardianship helps provide financial support to the Statewide Public Guardianship Office. The State of Florida Public Guardianship Pooled Special Needs Trust, which the foundation supports, provides disabled beneficiaries with oversight and protection through a unique structure involving a trust protector and two not-for-profit co-trustees. Berkshire Trust Advisory Services Corporation, a company with experience in special needs trusts, helps ensure the trust is run properly. In the Florida Public Guardianship Pooled Special Needs Trust, there are two trustees who have different jobs. One is responsible for supporting the trust and educating people about it, while the other is in charge of actually handling the money and making decisions about who gets it. When a person with special needs dies, any money left in their account goes to the Statewide Public Guardianship Office. This helps avoid conflicts of interest and ensures transparency in how the money is handled. The Statewide Public Guardianship Office is a government office in Florida that appoints guardians for people who can’t afford a private guardian and don’t have anyone else to help them. When someone in the trust dies, any leftover money goes to this office to help other people who need guardians. To sign up for the trust, you can call a toll-free number and ask about the State of Florida Guardianship Pooled Special Needs Trust. You can also find the trust documents online. This article is written by members of the Elder Law Section, and they are experts in elder and disability law. They are sharing information about special needs trusts and the legal codes that apply to them. The article is meant to help people understand the laws and regulations surrounding these types of trusts.

Source: https://www.floridabar.org/the-florida-bar-journal/q-a-introduction-to-the-state-of-florida-public-guardianship-pooled-special-needs-trust/