Caring for a loved one with a disability
Since 1996, Wells Fargo Bank has been one of the largest national providers of special needs trust administration. Our trust professionals understand the profound impact that a disability can have on the daily lives of individuals and those of their loved ones. Working with specialists who have the skill, experience, and compassion to help you address these unique challenges can make all the difference in providing a higher quality of life.
What is a special needs trust and how does it work?
A special needs trust is designed for the benefit of an individual living with a disability. It is typically funded by a gift, an inheritance, life insurance, or compensation from a personal injury or other type of legal settlement.
When structured and administered correctly, a special needs trust can offer immediate and long-term benefits in three primary ways:
- Help meet ongoing cashflow needs
- Preserve eligibility for means-tested state and federal benefits
- Provide financial support for a wide range of quality-of-life purchases, activities, and services
Our personal commitment
When Wells Fargo Bank is named as corporate fiduciary of a special needs trust, you and your family can expect to have an ongoing relationship with a dedicated specialist who can help determine primary objectives for your loved one living with special needs and create comprehensive solutions. Beyond managing trust assets, we can provide custom services, such as:
- Developing comprehensive budgets
- Assisting with referrals for attorneys, case managers, and other professionals
- Bill and tax payments
- Facilitating the purchase of accessible vehicles and residential real estate
- Preparing administrative trust accountings for court-supervised accounts, when required
