Party Pooled Special Needs Trust Sample Clauses

Party Pooled Special Needs Trust for the benefit of (Name of Beneficiary) for deposits into the Beneficiary’s sub-account. • Checks can be received at any time. • Direct deposits can be arranged – contact CCT for more information. 1 Mutual funds, money market funds, and exchange-traded funds (ETFs) also charge internal management fees, which are disclosed in the fund's prospectus and deducted from the net asset value of the funds. Any additional investment or custodial fees will be disclosed in advance. True Link may engage additional third parties who may charge additional fees. Ongoing Fees Deducted from the Funded Sub-Account • CCT Consultation Fee – 0.50% of the average daily balance of the sub-account, per year, prorated on a monthly basis. • True Link Financial Advisors, LLC’s Investment Management Fee – 0.34% of the average daily balance of the assets under management in the sub-account, per year, prorated on a quarterly basis. • True Link Financial, Inc.’s Annual Record-keeping Fee – $150 per year, prorated on a quarterly basis. • Capital First Annual Trustee Fee – $100 per year, prorated on a quarterly basis Termination Fees • CCT Termination Fee – $500, when the Beneficiary passes away or the account is moved. For Military Survivor Benefit Plan (SBP) Trusts ONLY • Because the SBP trust will be funded by fixed monthly payments, the minimum initial funding requirement does not apply. • All SBP trusts require a CCT enrollment fee of $1,250, regardless of total funding amount. Make check payable to Commonwealth Community Trust. Enrollment fees for SBP trusts cannot be deducted from the sub-account, as it will not be funded upon joining. • An initial account deposit of $10.00 is required. Make checks payable to CCT First-Party PSNT f/b/o (Name of Beneficiary) or Commonwealth Community Trust First-Party Pooled Special Needs Trust for the benefit of (Name of Beneficiary). • No additional fees will be charged until the first MSB payment is received by CCT. * For investment management services, the Trust is the client, not the beneficiary. Mutual funds, money market funds, and exchange-traded funds (ETFs) also charge internal management fees, which are disclosed in the fund's prospectus and deducted from the net asset value of the funds. Any additional investment or custodial fees will be disclosed in advance. True Link may engage additional third parties who may charge additional fees. *Accounts having a balance below $25.00 will be closed, and a check for the account balance will be ma...
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Party Pooled Special Needs Trust. In order for a Beneficiary of a First‐Party Pooled Special Needs Trust to have funds in a trust, federal and state law requires that upon the Beneficiary’s death, the state or states will have a claim against the trust for any money that the state or states’ Medicaid program has paid out on his or her behalf that is not retained by a nonprofit organization. It is important to note that the Third‐Party Pooled Special Needs Trust does not require a Medicaid payback upon the Beneficiary’s death. Medicare – A health care program operated and funded by the federal government for senior citizens, people 65 years of age or older; and people with specific disabilities.
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Party Pooled Special Needs Trust. Self‐funded by the individual with special needs as a result of a personal injury award, Social Security back payment, direct inheritance, or other reason. For a Beneficiary who receives Medicaid, this is a Medicaid payback trust. Upon the death of the Beneficiary, Medical Assistance Services will be repaid for its expenditures during the Beneficiary’s lifetime. This type of trust must be irrevocable by law. Grantor – The person who establishes the special needs trust and is generally the person whose assets fund the trust. Irrevocable Trust – Refers to any trust which cannot be undone or changed. The Pooled Special Needs Trust is irrevocable by law. An irrevocable trust is a legal agreement whose terms cannot be changed by the creator, or grantor, who establishes the trust, chooses a trustee, and names the beneficiary or beneficiaries. The trust document names a trustee who is responsible for managing the assets in the best interests of the beneficiary or beneficiaries and carrying out the wishes the creator has expressed. Joinder Agreement – The legal document that allows the Beneficiary to have a sub‐account with a Pooled Special Needs Trust. The Joinder Agreement for GCT of AADD needs to be completed and notarized. Letter of Intent –The Letter of Intent provides Pooled Special Needs Trust Advisory Co‐ Trustee’s the opportunity to elaborate on his/her vision and goals for the trust and to share with the Trustee information about the Beneficiary which can include special interests, likes and dislikes.
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Party Pooled Special Needs Trust for the benefit of (Name of Beneficiary) for deposits into the Beneficiary’s sub-account. • Checks can be received at any time. • Direct deposits can be arranged – contact CCT for more information. Ongoing Fees Deducted from the Funded Sub-Account • CCT Consultation Fee – 0.50% of the average daily balance of the sub-account, per year, prorated on a monthly basis. • True Link Financial Advisors, LLC’s Investment Management Fee – 0.34% of the average daily balance of the assets under management in the sub-account, per year, prorated on a quarterly basis. • True Link Financial, Inc.’s Annual Record-keeping Fee – $150 per year, prorated on a quarterly basis. • Capital First Annual Trustee Fee – $100 per year, prorated on a quarterly basis Termination Fees • CCT Termination Fee – $500, when the Beneficiary passes away or the account is moved. * For investment management services, the Trust is the client, not the beneficiary. Mutual funds, money market funds, and exchange-traded funds (ETFs) also charge internal management fees, which are disclosed in the fund's prospectus and deducted from the net asset value of the funds. Any additional investment or custodial fees will be disclosed in advance. True Link may engage additional third parties who may charge additional fees. *Accounts having a balance below $25.00 will be closed, and a check for the account balance will be made payable to the Beneficiary and mailed to the Advocate. Check which do not clear within 90 days or checks returned due to an insufficient address will be voided and the balance will be paid to CCT as an additional closing fee.
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Related to Party Pooled Special Needs Trust

  • PROFESSIONAL DEVELOPMENT AND EDUCATIONAL IMPROVEMENT A. The Board agrees to implement the following:

  • International Olympic Committee; International Red Cross and Red Crescent Movement As instructed from time to time by ICANN, the names (including their IDN variants, where applicable) relating to the International Olympic Committee, International Red Cross and Red Crescent Movement listed at xxxx://xxx.xxxxx.xxx/en/resources/registries/reserved shall be withheld from registration or allocated to Registry Operator at the second level within the TLD. Additional International Olympic Committee, International Red Cross and Red Crescent Movement names (including their IDN variants) may be added to the list upon ten (10) calendar days notice from ICANN to Registry Operator. Such names may not be activated in the DNS, and may not be released for registration to any person or entity other than Registry Operator. Upon conclusion of Registry Operator’s designation as operator of the registry for the TLD, all such names withheld from registration or allocated to Registry Operator shall be transferred as specified by ICANN. Registry Operator may self-­‐allocate and renew such names without use of an ICANN accredited registrar, which will not be considered Transactions for purposes of Section 6.1 of the Agreement.

  • Management of REO Property (a) Prior to the acquisition of title to any Mortgaged Property securing a defaulted Mortgage Loan, the Special Servicer shall review the operation of such Mortgaged Property and determine the nature of the income that would be derived from such property if it were acquired by the Trust. If the Special Servicer determines from such review that:

  • Collateral Management Fee Borrower shall pay Lender as additional interest a monthly collateral management fee (the "Collateral Management Fee") equal to 0.0625% per month of the Fee Facility Cap. The Collateral Management Fee shall be payable monthly in arrears on the first day of each successive calendar month (starting with the month in which the Closing Date occurs).

  • Federal Medicaid System Security Requirements Compliance Party shall provide a security plan, risk assessment, and security controls review document within three months of the start date of this Agreement (and update it annually thereafter) in order to support audit compliance with 45 CFR 95.621 subpart F, ADP System Security Requirements and Review Process.

  • Selection Planning Prior to the issuance to consultants of any requests for proposals, the proposed plan for the selection of consultants under the Project shall be furnished to the Association for its review and approval, in accordance with the provisions of paragraph 1 of Appendix 1 to the Consultant Guidelines. Selection of all consultants’ services shall be undertaken in accordance with such selection plan as shall have been approved by the Association, and with the provisions of said paragraph 1.

  • Professional Development Funds 23.1.1 Two Professional Development Funds, a Professional Development Support Fund and an Education Leave Fund, shall be established to support professional development activities as defined in 23.2. On April 1st of each year, the College will allocate an amount equal to no less than 0.9% of total faculty salary (exclusive of severance payments) to the Professional Development Support Fund, and an amount equal to no less than 0.6% of total faculty salary to the Educational Leave Fund. Any unused balances in these funds shall carry over to the next budget year.

  • Contractor Security Clearance Customers may designate certain duties and/or positions as positions of “special trust” because they involve special trust responsibilities, are located in sensitive locations, or have key capabilities with access to sensitive or confidential information. The designation of a special trust position or duties is at the sole discretion of the Customer. Contractor or Contractor’s employees and Staff who, in the performance of this Contract, will be assigned to work in positions determined by the Customer to be positions of special trust, may be required to submit to background screening and be approved by the Customer to work on this Contract.

  • Security Management The Contractor shall comply with the requirements of the DOD 5200.1-M and the DD Form 254. Security of the Contractor’s electronic media shall be in accordance with the above documents. Effective Program Security shall require the Contractor to address Information Security and Operations Security enabled by the Security Classification Guides. The Contractor’s facility must be able to handle and store material up to the Classification Level as referenced in Attachment J-01, DD Form 254.

  • Statewide HUB Program Statewide Procurement Division Note: In order for State agencies and institutions of higher education (universities) to be credited for utilizing this business as a HUB, they must award payment under the Certificate/VID Number identified above. Agencies, universities and prime contractors are encouraged to verify the company’s HUB certification prior to issuing a notice of award by accessing the Internet (xxxxx://xxxxx.xxx.xxxxx.xx.xx/tpasscmblsearch/index.jsp) or by contacting the HUB Program at 000-000-0000 or toll-free in Texas at 0-000-000-0000.

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