Common use of Trust Purpose Clause in Contracts

Trust Purpose. The Trust is an irrevocable pooled trust established for the sole benefit of individual beneficiaries who are defined as disabled pursuant to Section 1614(a)(3) of the Social Security Act, codified as 42 USC 1382c(a)(3). Individual Trust accounts (“Sub-Account(s)”) shall be maintained for the lifetime beneficiary (Designated Beneficiary). For purposes of investment and management of Trust funds, the Trustee shall pool these accounts and manage them collectively with funds of other beneficiaries of the Trust. The Sponsor desires to establish an individual Trust account for the Beneficiary.

Trust Purpose. The Trust is an irrevocable pooled trust established for the sole benefit of individual beneficiaries who are defined as disabled pursuant to Section 1614(a)(3) of the Social Security Act, codified as 42 USC 1382c(a)(3). Individual Trust accounts (“Sub-Sub- Account(s)”) shall be maintained for the lifetime beneficiary (Designated Beneficiary). For purposes of investment and management of Trust funds, the Trustee shall pool these accounts and manage them collectively with funds of other beneficiaries of the Trust. The Sponsor desires to establish an individual Trust account for the Beneficiary.