New Website Launch: First Maryland Disability Trust, Inc.
We’re adding yet another member to the ADVP family. This week, we’re shining the spotlight on First Maryland Disability Trust, Inc. When someone you love has a disability, getting aid can be daunting. You may be confused by the process of receiving aid or benefits; you could also be realizing that those with disabilities don’t always get the level of help that they need. That’s where FMDT comes in–they’re here to help you or your loved one receive trustee and trust management services. Read on to see what our newest family member can do for you!
First Party Trusts
If you’re trying to protect your eligibility for medical assistance and aid, you’re looking for a first party trust. Of these Supplemental Needs Trusts, Congress created the Payback Trust and the Pooled Asset Trust. The Payback Trust covers all disabilities, but the patient must be under the age of 65. FMDT will serve as a trustee or co-trustee for this trust. The Pooled Asset Trust includes all disabilities and all ages; for this, FMDT will serve as a trustee. Learn more by clicking here!
Third Party Trusts
A third party trust is when someone other than the individual with the disability is funding the trust. This is to support the livelihood and medical care of those with disabilities. FMDT can serve as a trustee for a Testamentary Trust, which is written into the individual’s will and is enacted upon the individual passing away. FMDT can also serve as a trustee for a Third Party Pooled Asset Trust, which is when anyone except for the person with the disability contributes funds. These third party trusts can be further explored by clicking here.
Are you ready to start exploring your opportunities with First Maryland Disability Trust? Get started today!