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When setting up a trust, a trusted individual or corporation must be selected to function as the trustee. This family member, friend or corporation will be given complete control of the property and assets contained within the established special needs trust. It is imperative the trustee understands the importance of their role and applicable government benefit guidelines as he or she is in charge of spending the money within the trust on your loved one’s behalf. The trustee role is no longer required a) once the funds in the trust have been depleted or b) at the time of the beneficiary’s death.
To learn more about Wealth Planning and other ways we can assist you, contact the Wealth Management Advisor in your area.
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Missouri/IllinoisGene Todd800-452-1414Contact Me
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