Consider the following situations commonly faced by individuals with disabilities and their families. NYSARC Trust Services resolved each of these circumstances through careful management.
Mr. and Mrs. Smith have spent years caring for their son, Willie, who was born with developmental disabilities. Now they would like to put some funds aside for this future use.
The NYSARC Unrestricted Fund is a third-party pooled fund that allows parents and loved ones to provide a sum of money (current minimum funding is $25,000) that can be used to enhance the life of their loved one with intellectual or developmental disabilities without causing an interruption in the benefits that he or she is receiving.
Olivia, a 75-year-old New York City resident with dementia, now receives a little too much money every month from her Social Security and pension for her to stay on Medicaid.
The NYSARC Community Trust II, sometimes called "the Medicaid spend-down trust," enables individuals with disabilities to continue to reside in the community while on Medicaid by depositing any excess monthly income into a trust to be used for living and other expenses.
James, who lives in a community residence, just received a retroactive Social Security award because of his father's work record.
The NYSARC Community Trust I is for individuals with a disability who receive a sum of money. This trust allows the individual to maintain eligibility for certain public benefits while transferring the lump sum into a trust to be used for his or her benefit for expenses such as customized equipment or other life-enhancing needs.
Andrew agreed to be the trustee of the supplemental needs trust set up by his parents for his brother who has autism. However, he ultimately found the job to be too much for him.
NYSARC Trust Services can assist in having a NYSARC executive appointed to serve as the trustee, while at the same time lending its vast experience in administering and managing the trust.
John settled his workers' compensation case and a Medicare Set-Aside (MSA) was funded in order to pay for future medical services related to his workers' compensation injury. Now he is no longer eligible for Medicaid because the MSA is being counted as an available resource.
NYSARC Trust Services can administer a MSA as a special needs trust so those funds remain available to pay for appropriate future medical services while enabling an individual to remain eligible for means-tested government benefits.
NYSARC Trust Services representatives have always been very professional and wonderful people to work with. They are doing great work with helping people in need.
Yours is the golden standard by which all agencies should be measured.
The quality of service offered by NYSARC Trust Services is unparalleled.