TRUST SERVICES
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WHY SHOULD A TRUST BE CONSIDERED IN ADDITION TO A STRUCTURED SETTLEMENT ANNUITY?
A structured settlement annuity is a powerful financial vehicle that delivers a variety of benefits to all parties involved in a settlement. However, in certain situations the overall value of the settlement can be enhanced with the use of a trust. By placing assets in a trust and having the funds professionally managed, future contingencies and concerns can be appropriately addressed and resolved especially with the use of a structured settlement to fund the trust.
Our trust platform is a bundle of various trust-related services that we offer to claimants. Our team provides guidance as to whether a trust is appropriate for a particular claimant and if so, connects the Claimant to a qualified trust services provider that can meet their unique needs.
Our client-centered focus means that we do not utilize a cookie-cutter approach. Each trust company has its own set of capabilities, minimums for investment, and geographic considerations. Our firm has completed a thorough process of vetting trust companies from all over the country to ensure that we have the best options to meet a variety of needs.
WHEN IS IT NEEDED?
Our team will help sort out the unique aspects of a claimant’s case and future needs. If a mutual determination is made that a trust may be of benefit, then our team helps schedule a call with an experienced trust provider. In many instances this call occurs in conjunction with the initial request, so answers are received in an expedient manner.
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WHAT CASE INFORMATION IS NEEDED BEFORE CONSIDERING A TRUST?
Basic information includes names of the settling parties, the state(s) of residence, and whether the Court is ordering a trust or if the guardian ad litem, claimant attorney, or a family member is requesting the trust.
Additionally, it is helpful to know whether there is an identified need for a special needs trust, a reversionary medical trust, or a Medicare Set-Aside. Furthermore, if any of the parties have expressed an interest in having some of their settlement proceeds tied to market performance, that information can help form the correct approach. Lastly, trust companies have varying minimums for establishing a trust, so a general idea of the potential funds available to be placed in a trust will also assist our team in making the most appropriate trust company referral.