Athens PSNT is a trust that serves disabled people by managing and protecting their assets. A disabled person, or their family, will make a deposit with the trust, and the trust will then use that money to purchase goods and services for that person. As a pooled trust, different Federal guidelines apply, thus allowing the trustees flexibility to either bolster a needy member’s trust balance, consider a distribution to potential heirs, or make payment to the State.
All assets held by Athens are “non-countable” assets for Social Security and Medicaid purposes. By giving assets to Athens for management, the disabled person can benefit from their long-term savings, rather than having to “spend down” the assets to qualify for benefits. Also, Athens’s attorney trustees are experienced planners, and can help place your loved one on solid ground.
If a loved one is on Medicaid or Tenncare, Athens cannot pay for shelter or food (because that’s what Medicaid pays for). Additionally, Athens can only make payments for items approved by the trustees. The trustees are bound by the terms of the trust, which in turn is governed by Federal statutes, and are designed to preserve a person’s eligibility for benefits.
Call our number to talk with us. We’ll then schedule an introductory call with one of our administrators to answer any questions, and see if Athens is a good fit. If it is the right fit, the family will meet with a trustee to become a member – and create a plan for using the trust assets for the member’s benefit. Athens will then begin making payments pursuant to the plan, or respond to individual requests, and begin to arrange any assets for transfer into the trust.
All pooled special needs trust members must be disabled. There are many types of qualifying disabilities. These include: dementia, cognitive issues, developmental disorders, those in Conservatorships, and those persons eligible for SSI and/or Medicaid. Beneficiaries of trust maintained by Athens Trustee Services need not be disabled.
A pooled trust allows for one disabled person to support another. Once a member dies, and they have remaining assets, the trustees can decide if another member of the pool needs additional funds because they are getting low on money. The disabled member can then, in essence, pay-it-forward to help the next disabled person in the pool.
Athens is an independently audited IRS 501(c)3 charitable organization. We use online client portals for instantly-available monitoring of membership accounts. Athens only uses experienced attorneys as trustees. Athens has modest enrollment costs and annual fees, and a relatively low minimum deposit.