Can I have a Visible National Trust separate trust account and receive disability benefits?
Yes! Visible National Trust is a qualified trust, meaning that disabled beneficiaries are eligible for all applicable benefits programs.
Individual Visible National Trust accounts
How to establish and use a separate trust account with Visible National Trust.
What happens when the disabled beneficiary passes?
Prior to account closure, any outstanding bills and taxes will be paid. Then the separate trust account will be closed.
What happens if the disabled beneficiary moves to another state?
There may be state-specific paperwork to complete and return to Visible. Please let us know address changes as they occur.
Can remaining trust assets be left to others when the disabled beneficiary passes?
Yes. If Medicaid payback applies, funds will be distributed to residual beneficiaries after that happens. For third-party trusts, when the donor(s) is someone different than the disabled beneficiary, there is no Medicaid payback and all remaining funds are available to …
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Does Medicaid require that it be paid back for benefits provided to disabled beneficiaries?
When funds are placed into the separate trust account by the disabled beneficiary themselves, yes. In this case, also called a first-party trust, each state in which the disabled beneficiary received Medicaid benefits will be paid back for the benefits …
Can separate trust account funds be used for other purposes?
No. This type of trust is designed to help disabled beneficiaries and their families by ensuring that the funds are there specifically for their needs. As a result, these trusts are “irrevocable”, meaning the funds cannot be taken out of …
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What happens after a Visible National Trust separate trust account is established?
Once the separate trust account is opened, the donors can fund the account, and the beneficiary or their designated advocate can electronically request distributions to pay for services and items they need. Account information is available online by logging onto …
What happens after a Visible National Trust separate trust account is established? Read More »
What is the process for establishing a separate trust account with Visible National Trust?
First, we’ll have a conversation with you and your advisor to make sure Visible is a good fit for you. Then, we’ll need a completed application, called a “Joinder Agreement”. Then, we’ll set up your Visible National Trust separate trust …
How much money can be placed in a Visible National Trust separate trust account?
There is no limit on the amount of money that can be placed in a Visible separate trust account.