What Happens After the Beneficiary's Death?

If the Trust is Self-Funded

Any remaining money in the Trust can be retained by the Trust for the benefit of other indigent Beneficiaries with a disability; allocated by percentage to the Trust and to the State Medicaid Agency; or allocated to the Trust after full repayment to the State Medicaid Agency.

If the Trust is a Third-Party Funded Trust

Any remaining money in the Trust can be designated to the Trust for the benefit of other indigent persons with a disability; allocated, all or part, to a charity of the Grantor's choosing; allocated, all or part, to other Beneficiaries of the Grantor's choice.

Is there a Minimum Deposit?

There is no minimum deposit required, although if the initial deposit is minimal then consideration should made to simply spending the funds on needed items to save the joinder fee assessed by the Trust.  Future deposits of any amount can be made at anytime simply by sending those funds to the Program Manager for deposit into the Beneficiary's account. Funding can also be done through an estate plan or through life insurance at the third-party trust creator's death.

How are the funds held?

The program manager sub-contractor, Guardian & Conservator Services, LLC (GCS, LLC), will open a trust custodial checking account in the name of the Beneficiary and keep a minimum amount of money in that account to pay monthly obligations.  The balance of the funds, if over $10,000, will be placed into an investment account with the Bank of Utah.

What are the Program Fees?

  • Initial Joinder Fee - 10% of the initially deposited funds with a minimum fee of $350 and a maximum fee of $2000.
  • Annual Trust Renewal Fee of $300 per year paid in February of each year.
  • Per Check Writing Fee - $20 per check billed quarterly by the program management sub-contractor, GCS, LLC, and paid from the Trust Beneficiarie's account.
  • Annual Financial Report Fee - $200 per year - report sent the Beneficiary.
  • Case Management Fee - $90 per hour.