Alabama Family Trust manages special needs trusts for individuals with dementia, including Alzheimer’s disease, as well as others with disabilities. A special needs trust can help families quickly qualify for Medicaid benefits for their loved ones who are in, or about to enter, a skilled nursing facility. The funds in trust can be used improve the quality of life for the beneficiaries and to help make sure available governmental entitlements are used to complement the beneficiaries’ own assets for their care.
Established by the Alabama Legislature over 25 years ago, Alabama Family Trust is governed by a board of trustees appointed by the Alabama Legislature. The special needs trusts managed by AFT range in size from only $1,500 to millions of dollars. AFT works with the attorneys representing the family on cases ranging from legal settlements, estate planning, guardianship/conservatorships, to elder law attorneys handling Medicaid applications. Once a special needs trust is established, the AFT staff works with each trust representative to make sure that the funds are used for the beneficiary in a way that also protects the beneficiary’s government benefits. Some advantages of Alabama Family Trust are:
- Assurance that Alabama Family Trust operates in accordance with all Social Security Administration and Medicaid regulations
- Protection from abuse, exploitation, and mismanagement of assets that are placed in trust
- An option for smaller trusts that banks and other trustee institutions may not accept
- Low administrative fees
- Long-term management and investment of trust assets by the highly respected Warren Averett Asset Management group
- A proven track record of having all trust documents accepted by Social Security Administration and Medicaid
- Additional benefits from our charitable fund when individual trust assets are depleted
Learn more https://www.alabamafamilytrust.com/ and read some of our blog posts that specifically address elderly trusts which are often used for beneficiaries with Alzheimer’s disease or other types of dementia.