The NYSARC Trust (Unrestricted Fund), established in 1972, is a third party supplemental needs trust, also referred to as a special needs trust.
This trust allows parents, grandparents, and loved ones to set aside money that can be used to enhance the quality of life of a person with an intellectual and/or other developmental disability without causing any interruption in the benefits he/she is receiving, such as Supplemental Security Income (SSI), Medicaid, or other disability benefits.
As the Donor/Grantor (person who funds the trust), you can choose to fund a NYSARC Trust during your lifetime or as part of your estate plan.
This trust requires a minimum initial deposit of $25,000 and charges no administrative fees during the lifetime of the beneficiary to maximize the benefit to your loved one(s). The only costs include a nominal investment management fee and any direct expenses incurred.
When a Beneficiary passes away, the first $25,000 is transferred to NYSARC's Exempt Fund to support NYSARC’s unfunded Corporate Guardianship Program, which currently includes more than 700 people with intellectual and developmental disabilities who would otherwise have no legal guardian.
The remaining balance is distributed however you choose as directed in your trust document.
The Exempt Fund is a 501(c)(3) tax-exempt fund that accepts donations and bequests. Your gift supports NYSARC, Inc.’s unfunded Corporate Guardianship Program, which provides guardianship services to people with intellectual and/or other developmental disabilities who have no legal guardian. Program services provide advocacy and daily support including ways to provide supplemental needs. Gifts or bequests to this fund are tax-deductible to the extent permitted by law.
For more information or if you are interested in making a donation to support this fund, please contact us.
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.