The Benefits You Can Get from Opening a Pooled Trust in Chicago

Those who receive such government benefits as Medicaid or SSI are in constant danger of losing those benefits if they accumulate too much money in their bank accounts or if someone names them in their will and gives them some sort of inheritance. Thankfully, there is a legal way around it called a pool trust in Chicago.

Affordable

While establishing a pooled trust does cost money, it is still significantly cheaper than other options such as a Special Needs Trust. This savings encourages more people to actually use it versus deciding not to protect their money because it is too expensive to do so in an upfront decision.

Worry-Free

With other more traditional trusts, you will need to name a trustee that both meets the legal requirements of appropriateness as well as has the actual knowledge to perform the job. However, when you set up a pool trust in Chicago, the trustee is appointed by the non-profit that manages the entire trust. This relieves you of the stress that comes with worrying about who is running the trust.

Highly Efficient

Since pooled trusts are required to be managed by professionals, they are much more efficient than a traditional trust fund. This means they have the potential to earn the beneficiary more money than any other option they have available to them. It is definitely worth the cost of management fees when the return on investment is considered.

If you need a top-notch and well-managed pool trust, contact Life’s Plan, Inc. for a consultation.

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