Advantages

A Camphill Resident’s Trust account has specific advantages when compared to a trust which names a financial institution as trustee.

Milking the Cow

  • A CRT account can be established with as little as $15,000 compared to the $300,000 or more required by most corporate trust departments. The initial deposit to the CRT can be as little as $3,000 with two years allowed for the additional $12,000 deposit.
  • No fee is charged to create a Trust account.
  • The CRT has access to professional asset managers who also manage millions of dollars for high net worth individuals and institutions.
  • The CRT’s administrative and investment fees are a percentage of the account balance and are a fraction of the cost typically paid to a bank, brokerage firm, or corporate trust department by sponsors investing on their own. This can potentially save thousands of dollars a year in administrative and investment expenses.
  • Financial management and reporting services including tax preparation are provided for a low cost.
  • Disbursement of funds is overseen by the CRT Board who are people knowledgeable about special needs and dedicated to the welfare of the beneficiaries.
  • Periodic financial reporting to sponsors enables them to better utilize Trust resources for the beneficiary.
  • A CRT account could serve as an integral part of a family’s estate plan to provide for their family member with special needs.
  • If a beneficiary moves to another Camphill community or a different living arrangement, the CRT follows the individual as originally established. The Trust funds remain fully available and the oversight provided by the Board continues.
  • The CRT as established preserves the beneficiary’s entitlement to government benefits such as SSI, Medicare, Medicaid, etc. The Trust funds are available for improving or enriching the quality of life for the beneficiary.

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