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The Arc of Virginia #6016

 Planning for the Future

A major concern for families is how to plan for the future of their family member with a disability.  With limited availability of publicly funded services, families need information on how to provide for their family member when they can no longer be there.  The information below identifies resources to help families plan for the future.

BENEFITS PLANNING, ASSISTANCE, AND OUTREACH (BPAO) PROGRAM
This service is available to people receiving Social Security and/or Supplemental Security Income. The Ticket To Work and Work Incentives Improvement Act of 1999 (Public Law 106-170) requires the Social Security Administration (SSA) to provide benefit planning and assistance to all beneficiaries. This service is free to anyone who requests assistance.

SPECIAL NEEDS TRUSTS - THE ARC OF NORTHERN VIRGINIA
The Arc of Northern Virginia has two types of individually tailored Special Needs Pooled Trusts that can be set up by families or individuals with disabilities. Click the link above for more information.

COMMONWEALTH COMMUNITY TRUST (CCT)
The Commonwealth Community Trust (CCT) is a statewide, nonprofit 501 (C) 3 organization established by concerned citizens and parents of children with disabilities to provide a convenient and economical way to have Trust funds administered for people with disabilities. Click the link above for more information.

VIRGINIA BEACH COMMUNITY TRUST
For information, write to the Virginia Beach Community Trust, Pembroke 3, Suite 144, 289 Independence Boulevard, Virginia Beach, VA 23462, or call (757) 385-0645.

MetDESK
http://www.metlife.com/desk
MetDESK is a division of MetLife, which provides financial planning information and assistance to families of children with special needs.  Working with you and a qualified attorney, MetDESK Specialists can help you work through many of the financial and legal issues that go with helping secure your child's future and quality of life.  MetDESK is a corporate sponsor of The Arc of the United States.

INSTITUTE FOR SPECIAL NEEDS PLANNING
 For more information and a fee schedule contact: Tia Marsili, Director of Trusts, The Arc of Northern Virginia, 703-532-3214, ext.115, info@thearcofnova.org or click here.

THE ARC OF NORTHERN VIRGINIA SPECIAL NEEDS TRUSTS

To ensure your family member will have security, support, and funds for extra comforts and services, medical care not covered by benefits or insurance, you will want to consider having a Special Needs Pooled Trust.

What are the two types of Special Needs Trusts?

1)   A Self Funded Trust – which can be set up by an individual with a disability who may have a large sum of money from a financial settlement, back payment from Medicaid, or other award money.

2)   A Family Funded Trust – which is set up by parents or other relatives to provide supplemental funds for a family member with a disability. This trust can be funded now or you can plan to fund it later if your family member is left money through a life insurance policy or through another arrangement.

Who do the Special Needs Trusts serve?

• Families who do not have someone to serve as trustee.
• Families whose assets are insufficient for a bank to manage in a separate trusts.
• Families & individuals who want an established organization that is knowledgeable about benefits and services and a bank with a financial expertise, working together for the long-term support of their family member.
• Individuals with disabilities who receive large sums of money that would otherwise jeopardize their eligibility for benefits.
   

What organizations are working cooperatively to help you and your family?

SunTrust Bank
Serves as trustee and provides professional investment services

The Foundation of the Arc of Northern Virginia
Oversees & manages the disbursements to be used on behalf of the beneficiary

For more information and a fee schedule contact: Carrie Frey, Director of Services,  The Arc of Northern Virginia, 703-532-3214, ext.102, cfrey@thearcofnova.org or click on http://thearcofnova.org/arcservices/trustservices.html

 Commonwealth Community Trust (CCT)

Security For People With Disabilities

The Commonwealth Community Trust (CCT) is a statewide, nonprofit 501 (C) 3 organization established by concerned citizens and parents of children with disabilities to provide a convenient and economical way to have Trust funds administered for people with disabilities.

The mission of CCT is to enhance government programs for the life long special needs of the beneficiary so that he or she can live securely.  A Trust can mean the difference between receiving government entitlement programs such as SSI and Medicaid that meet only the most basic essential needs and a life that includes enrichment, dental care, eye care, hearing aids and much more.  The opportunity for an enriched quality of life is what we all wish for those we care about. The CCT will supplement government programs while taking care to preserve the individual’s eligibility.

The CCT offers two types of trusts: The Special Needs Trust (SNT) which is established by a family member, such as a parent, grandparent or other relative or friend for the benefit of a loved one.  The Pooled Disability Trust (PDT) is self funded by the individual with a disability who has assets of his or her own.

The Trust Company of Virginia serves as Trustee and together with the Board of Advisors and staff manages the investment and disbursement of funds.  There is no minimum funding requirements.

For more information contact:
Joanne Marcus, MSW, Executive Director
(804) 740-6930; toll free outside the Richmond area 1-888- 241-6039 or
E-mail: jmarcuscomtrust@aol.com.
The mailing address is P.O. Box 29408, Richmond, VA 23242-0408.

CCT has a website with a great deal of information at
http://www.commonwealthcommunitytrust.org

Updated 11/24/08