Old man relaxed

What are the basic requirements for joining?

  • Beneficiary must be disabled as defined by law. This typically includes age-related infirmities.
  • The monthly income being deposited in the Trust Account must belong to the beneficiary.
  • The Trust Account must be established by the Beneficiary. A court appointed guardian or Power of Attorney may be considered as well.
  • The trust account must be established solely for the benefit of the Beneficiary.

Trust Fees

Enrollment Fee

Monthly Administration Fee

 

Annual Renewal Fee

$250.00

10% of the required monthly surplus deposit

Minimum monthly administration fee: $30

Maximum monthly administration fee: $200

$100.00

Enroll in the Trust:

To join the trust, the beneficiary or the Authorized Representative must submit a completed Joinder Agreement along with the initial enrollment fee.

 

Trust Documents

Mail completed Joinder to:

UCS Disability Pooled Trust

P.O. BOX 190391

Brooklyn, NY 11219-0391

Understanding the fees

An initial enrollment fee of $250.00 will be charged to establish an account.

In addition, a monthly administrative fee will be charged to each sub-trust account. At the present time this fee shall equal to 10% of the required monthly deposit (income determined by Medicaid to be "spent-down"). This fee shall not be less than $30.00 monthly. However, this fee will not exceed $200.00 regardless of surplus amount.

 

There are two payment options:

Option 1 (monthly)

The administrative fee is deducted from the sub-trust account monthly.

Option 2 (lump-sum)

The full administrative fee for the year is paid in advance. Should this option be selected, a 10% reduction will be applied.

A Renewal fee of $100.00 will be applied annually. This is deducted from beneficiary accounts at the time of its anniversary. (Although, UCS incurs both direct and indirect costs associated with the preparation of the annual tax return filed by the Trust, no additional fees will be charged.)

Other Fees

In addition to the fees listed above, the following charges will apply:

One-day processing $25.00

Stop payment $25.00

Copy of canceled check $10.00

Returned ISF check $25.00

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