PLAN of Massachusetts and Rhode Island requires anyone interested in establishing a Third Party Special Needs Pooled Trust to consult their own attorney. The process for creating an account generally takes 2-3 weeks and includes the followings steps:
- Donor submits a signed and notarized Joinder Agreement (pdf) and enrollment fee.
- A PLAN attorney reviews the Joinder Agreement.
- The Joinder Agreement is fully executed by a member of PLAN of MA and RI’s Board of Directors.
- If the account will be immediately funded, donor submits check to fund the account.
- PLAN of MA and RI submits new account paperwork and check to Cambridge Appleton Trust, N.A. to establish trust sub-account.
- PLAN of MA and RI forwards account confirmation materials to donor/donor’s attorney.
- The PLAN of MA and RI Service Coordinator assigned to the beneficiary contacts the donor(s) to schedule an introductory meeting to review the Disbursement Guidelines and explain how to access trust funds, as well as assist in developing the Life Care Plan.
The decision to join the Third Party Special Needs Pooled Trust is an important one. Please contact us if you have questions or need additional information as you make your decision.
What Parents of Third Party Trust Beneficiaries Say about PLAN of Massachusetts and Rhode Island
“PLAN of Massachusetts and Rhode Island has really helped give me a sense of freedom. The PLAN of Massachusetts and Rhode Island staff is so accessible and has helped foster trust and openness with my child that gives him the autonomy and freedom to make his own choices.”
“It was such a blessing to find the Third Party Pooled Trust. Given my son’s specific problems, it’s been an enormous help to have a neutral intermediary to channel the financial help and pay the essential bills. And, it certainly helps that the folks at PLAN of Massachusetts and Rhode Island are wise, experienced, and pragmatic.”