Enroll in Three Steps
Becoming enrolled in the Master Pooled Trust is as easy as A-B-C.
Determine the source that will fund your family member’s trust.
The money could come from a variety of sources, such as a will, a life insurance policy, SSI back-payments, a court settlement, a gift, or even cash from a savings account.
ii. Whose money is it?
1. A third party’s money- for example, mom, dad, grandparents, friends or other family. Trust I or Trust III
2. The Beneficiary’s own money- for example, personal savings, gifts, SSA back payments, child support or law suit settlement. Trust II or Trust IV
Determine which of four trust agreements best meets the needs of the beneficiary.
While we recommend that you seek the independent advice of an experienced estate-planning attorney or certified financial planner. The Arc of Texas can refer you to a list of attorneysthroughout the state who work with families of persons with disabilities who need estate planning.
Complete the Joinder Agreement.
Download the Joinder Agreements and Mailing Checklist. The Joinder Agreement is the legal document needed to establish a Master Pooled Trust sub-account. Follow the instructions included with the joinder agreement and complete the mailing checklist. Then mail the completed joinder agreement to The Arc of Texas with a check for the $600 enrollment fee, payable to The Arc of Texas.
After the account has been funded, the Primary Representative will receive a copy of the toolkit that outlines how to use a trust sub-account with The Arc of Texas Master Pooled Trust. The primary representative will also receive Quarterly statements, showing the disbursements, investment performance, and fees.
If you are not funding the sub-account right away, the Grantor (the person who established the trust) will receive an Enrollment Guide. This Enrollment Guide will answer most of the questions regarding funding the sub-account and other basic information on how the Trust works. This will prepare the Grantor, the Primary Representative, and the Beneficiary, to use this sub-account to improve the quality of life and ensure a successful future for the Beneficiary.
The following fees, which may be changed from time to time, may be charged by The Arc of Texas Master Pooled Trust.
A non-refundable one-time enrollment fee of $600* is due at the time the Joinder Agreement is executed. The enrollment fee covers the cost of opening a Trust sub-account for the Beneficiary.
Annual Maintenance and Consultation Fees
There is no annual renewal fee before the sub-account is funded.
After the sub-account is funded, the following annual fees are due. Although annual fees may increase or decrease over time, you will never be required to pay a higher fee than the rate that is applicable at the time your account is funded
Contact the Master Pooled Trust for consultation fees on amounts over $250,000.
Fee schedule for “Distributions Authorized” accounts
(means disbursements will be requested)
Annual Consultation fee:
Fee Schedule for “Distributions Deferred” accounts
(means NO disbursements will be requested)
Annual Maintenance Fee:
The Trustee and the Manager have authority from time to time, as necessary, to assess all sub-accounts or certain sub-accounts with special assessments for specific costs such as the cost of defending a sub-account of the Trust, or taking actions to preserve a beneficiary’s Government Assistance. See Section 7.9 of the Trust Agreement for a description of possible defense costs.
- Frequent Disbursement Fee for disbursements that exceed 24 per year - $12.50 per disbursement.
- IRS tax preparation fee – To be negotiated at the lowest reasonable rate
- Closing Fee- A $100 fee will be assessed upon closure of the sub-account
Use this tool to help determine which trust may be right for your situation. This is NOT LEGAL ADVICE and The Arc of Texas recommends you seek legal advice.
Who does the money belong to?
You can choose between Trust II or IV
ALL TRUST PROTECT BENEFITS
You can choose between Trust I or III
ALL TRUSTS PROTECT BENEFITS