Navigating Your Personal Trust Needs with Care and Confidence
Evolve believes in the power of a collaborative approach to fiduciary services. We serve as a guardian and conservator for your financial assets to preserve, grow, and account for those assets, including satisfying all Court monitoring requirements. Evolve works with your existing team of financial advisors, attorneys, accountants, and insurance professionals, ensuring that you receive a comprehensive, well-rounded service. This inclusive strategy allows us to maximize the benefits for you and your loves ones, offer privacy and protection of your assets, and provide a holistic financial solution that evolves with your life.
Personal Trust Administrative Services
Offering a wide array of personal trust services, Evolve Bank & Trust is committed to providing diligent and compassionate support. Our expertise spans multiple trust types, including:
- Revocable Trusts
- Irrevocable Trusts
- Charitable Remainder and Lead Trusts
- Co-Trustee Services
- Custodial Accounts for Individuals, Fiduciaries, & Corporations
- Generation Skipping Trusts
- Insured Deposit Program
- Special Needs Trusts
Special Needs* Trusts (SNTs)
Special Needs Trusts provide essential financial protection for individuals with disabilities while maintaining access to vital public benefits. Evolve offers two types of SNTs to best suit your situation:
Self-Settled Special Needs Trust
This personal trust trust is funded with the disabled person’s own assets. The advantage of this type of trust is that it allows the Trustee to conserve assets of the beneficiary while at the same time immediately allowing the beneficiary to qualify for all public benefits. The disadvantage is that upon the beneficiary’s death any remaining funds in a self-settled SNT must first go to pay off any Medicaid liens.
Third-Party Special Needs Trust
This personal trust is funded with assets from someone other than the beneficiary, such as a parent or grandparent, and can be created by will, revocable living trust, or as a stand-alone trust. A Third Party SNT is a great way for someone to provide for a disabled family member while allowing the individual to maintain their public benefits. If funds remain in this type of trust following the death of the beneficiary, the funds do not have to go to pay off a Medicaid lien distributed to the remainder beneficiaries.
“We pride ourselves on providing you with a high level of expertise ,diligent support, and trust. We value relationships and understand ‘the true meaning of trust.'”
** Disclosures: Special needs include, but are not limited to, disabilities caused by accident or injury such as paralysis, visual and/or auditory impairment, or permanent mental disorders. A Special Needs Trust (SNT) allows someone who is disabled to receive benefits from needs-based programs, such as Supplemental Security Income (SSI) and Medicaid while also having another source of funds to pay for additional benefits not provided by government. Federal law allows money placed into an SNT to not be treated as a countable resource for purposes of qualifying for needs based public assistance programs. SNTs are authorized by Federal law, at 42 USC 1396p (d)(4)(A).
