Community Services Board

Chesapeake Assistance Trust

You have Family Members with a Disability:
Can you Provide for them After You're Gone?

 

Future Planning

A major concern faced by many families involves how to provide for the future security of a family member who experiences a disability. Some of the important considerations in developing a plan for the future include:

• Identifying the special needs and services requirements of the family member who is disabled.

• Understanding the needs of the whole family.

• Determining the family's assets as well as governmental benefits for the persons with a disability.

• Deciding among various estate planning devices to provide for the future (e.g., insurance plans direct inheritance, trusts, etc.)

What is a Trust?

For many parents, a trust is one of the best means to help provide for the personal and financial future of their child with a disability. A trust is an agreement whereby one person or persons (Trustees) handle funds for the benefit of another (the beneficiary) according to the directions of the person who created the trust (settlor).

What is the Chesapeake Assistance Trust?

The Chesapeake Assistance Trust is a way for families to provide a resource to their family member(s) with mental retardation or serious mental illness.

The purpose of this trust is to provide assistance over and above benefits provided by local, state, and federal government programs. A major goal of the Trust program is to help provide such experiences and services as well as contribute to and make the beneficiary's life as pleasant, comfortable and happy as possible.

Some special features of the Chesapeake Assistance Trust include:

• A knowledgeable Board of Trustees (with representatives such as attorneys, accountants, insurance agents, bank officers and relatives of persons with mental retardation or serious mental illness) who volunteer their time to manage funds as directed in the Trust to best meet the needs of beneficiaries.

• An arrangement to ensure that benefits through the trust are provided in addition to other benefits for which the beneficiary is eligible.

• An aid for identifying and obtaining needed services and programs for persons with mental retardation and/or serious mental illness.

Benefits of the Trust Program

• Peace of mind for parents and relief for relatives and friends who often assume financial responsibilities for family members who have mental retardation or serious mental illness.

• An opportunity to participate in a Trust Program which, otherwise, would not be affordable to many families.

• Protection of funds designated for the benefit of family members who are mentally disabled.

• A source of ongoing support for the beneficiary within the terms of his/her individual trust.

Does a family have to spend its money now to set up a trust?

No. The trust can be set up so that it only becomes effective upon the death of the person creating the trust. This can be done through the person's will or life insurance policy.

Eligibility

Any family with a family member who is eligible to receive services from the Chesapeake Community Services Board due to mental retardation or mental illness is eligible to participate in the Chesapeake Assistance Trust Program for the benefit of that family member.

View the Chesapeake Assistance Trust video *

How to reach us

Susan Music or Donnell Parham can be reached at:

Chesapeake Assistance Trust
224 Great Bridge Blvd.
Chesapeake, VA 23320
Phone: (757) 547-9334

 

* NOTE: Viewing the session requires Microsoft Media Player. Download here if you do not have Media Player installed.