An account with the Developmental Disabilities Endowment Trust Fund is an economical and trusted alternative to a stand-alone special needs trust whenever money, such as an inheritance or personal injury award, is to be distributed to someone who is or will be on needs-based government assistance (such as SSI and Medicaid) and who qualifies as being developmentally disabled.
With great confidence, you can refer your clients to the customer service oriented staff at the DD Endowment Trust Fund’s office to be expertly assisted in applying for an account as well as accessing the account once established. Your clients can apply for and fund their DD Endowment Trust Fund account themselves.
Estate plans can be drafted to direct bequests to an DD Endowment account rather than a third party testamentary trust. Such DD Endowment accounts, called Trust I accounts, are not Medicaid payback accounts.
Developmentally disabled individuals who find themselves directly receiving an inheritance, can route those funds to a DD Endowment Trust II account, which does have a Medicaid payback as required by federal law, in order to stay under the resource limit required to stay on SSI and Medicaid.
Personal Injury awards can similarly be routed to a DD Endowment Trust 2 account in order to preserve eligibility for SSI and Medicaid.
For more information, call the DD Endowment Trust office to learn how this trust program can be useful to your clients. With the matching of the $600 origination fee, as well as matching of portions of other fees, the DD Endowment Trust Fund is a financial gift to Washington residents with developmental disabilities. Your clients will be delighted and grateful to learn about it from you.