Self-Settled Trusts (d-4-a)
Who Does PLAN’s Self-Settled Trust Serve?
What are the benefits of a Self-Settled Trust?
The Self-Settled Trust is used when someone receives a direct inheritance, a back payment from Social Security, a settlement or lottery win. It is funded with the person with a disability’s own money. It is possible to leave the remaining funds according to the grantor’s designee after funds are used to back the State(s) for services provided. If there is money in the trust after the death of the beneficiary, the state Medicaid agency must be repaid for benefits the beneficiary received. This is commonly referred to as the “payback provision”. PLAN does not require any remaining funds be left to the organization.
How Do I Set Up a PLAN Trust?
- Call PLAN to speak to the Outreach Coordinator for more information.
- Meet with a PLAN Professional Member (attorney)*. A list of PLAN attorneys can be accessed on our website or provided by the Outreach Coordinator.
- Complete the appropriate legal form (Trust Adoption Agreement or Subscriber Agreement) with your attorney, and submit it with your establishment fee and other required supporting documents.
*Attorney fees are separate from PLAN fees