BOSTON, Feb. 15, 2024 – Visible National Trust, the first and only national special needs trust platform run by independent national and global financial institutions and financial professionals, says that the recently reported failures of leadership and governance at two regional Florida-based pooled special needs trusts, Synergy Settlements and The Center for Special Needs Trust Administration, underscore the importance and urgency of placing special needs trust accounts with established financial services institutions and professionals.
“Until recently, many families caring for a loved one with a disability wishing to establish a special needs trust account have been served by organizations outside of the financial services industry, adding risk to an already challenging situation.” says Lisa Cohen, founder of Visible National Trust. “Families caring for disabled loved ones deserve the transparency, tools, and talent provided by the robust financial services industry. We created Visible National Trust for this very reason.”
Visible National Trust’s mission is to increase financial security for people with disabilities and their families. Visible Foundation is the independent 501(c)(3) Sponsor and Trustee of Visible National Trust. BlackRock is the ETF model portfolio provider to the Trust. Huntington National Bank provides custody, recordkeeping, and payment services. Capital Motion LLC is the Trust Administrator.
Visible National Trust provides seamless connectivity and transparency between families and their trusted advisors. The U.S. disability community includes 1 in every 4 people, according to the CDC.
Special needs trusts are a specific type of trust that allows people with disabilities and their families to set money aside for care and quality of life. Funds in a special needs trust are not counted as resources by benefit programs, so beneficiaries can use their trust funds to amplify their care and services in addition to the benefits they may receive. These trusts can be structured as individual accounts for one person, or they can work similarly to a 401(k) plan, with one trust document and separate trust accounts for each beneficiary.
For more information about Visible National Trust, please visit our website at www.visiblenationaltrust.com, email us at inquire@visiblenationaltrust.com, or call 800-760-4234.
Contact: Lisa Cohen, 617-545-7937, lcohen@visiblenationaltrust.com