Guardianship and Trusts Corporation
Programs
Budget
$60,000.00
Description
We serve as fiduciary over trusts set up for the benefit of persons with mental and/or physical disabilities. These can be Trusts Under Will or Living Trusts, most of which are Special or Supplemental Needs Trusts. We also offer a Pooled Trust, which have lower costs than separately managed trusts but offer the same benefits, while combining participants' funds for investments that benefit all trust participants proportionately. Proper management of the trust ensures that the beneficiary does not lose access to any applicable means-tested government benefits like SSI or state Medicaid. GTC has more than thirty years' experience administering trusts under these complicated benefits programs. GTC relies on the investment advice of its Trusts and Investments committee, comprised of GTC directors drawn from local banks, trusts and investment firms.
Program Areas Served
None
$60,000.00
Description
We serve as fiduciary over trusts set up for the benefit of persons with mental and/or physical disabilities. These can be Trusts Under Will or Living Trusts, most of which are Special or Supplemental Needs Trusts. We also offer a Pooled Trust, which have lower costs than separately managed trusts but offer the same benefits, while combining participants' funds for investments that benefit all trust participants proportionately. Proper management of the trust ensures that the beneficiary does not lose access to any applicable means-tested government benefits like SSI or state Medicaid. GTC has more than thirty years' experience administering trusts under these complicated benefits programs. GTC relies on the investment advice of its Trusts and Investments committee, comprised of GTC directors drawn from local banks, trusts and investment firms.
Program Areas Served
None
Budget
$56,000.00
Description
Adult Protective Services regularly looks to GTC to serve as guardian and conservator for wards of the court who have been abused, neglected or exploited and have nowhere else to turn.The person becomes a ward of the court after a hearing in which the court determines that the person lacks the capacity for decision-making and self-care. This person may have experienced medical or physical trauma, abuse, or neglect; may have no family members; and may have been financially victimized as well. We provide assistance with living and daytime care arrangements, review and consent for medical treatment, financial management, benefits processing, legal representation, and other matters essential to the best outcome for each client. Our goal is to maximize all financial resources to enable the client to live safely in the least restrictive environment possible. We also serve wards of the court who are able to pay for the professional services rendered.
Beneficiaries
General Public
Program Areas Served
None
$56,000.00
Description
Adult Protective Services regularly looks to GTC to serve as guardian and conservator for wards of the court who have been abused, neglected or exploited and have nowhere else to turn.The person becomes a ward of the court after a hearing in which the court determines that the person lacks the capacity for decision-making and self-care. This person may have experienced medical or physical trauma, abuse, or neglect; may have no family members; and may have been financially victimized as well. We provide assistance with living and daytime care arrangements, review and consent for medical treatment, financial management, benefits processing, legal representation, and other matters essential to the best outcome for each client. Our goal is to maximize all financial resources to enable the client to live safely in the least restrictive environment possible. We also serve wards of the court who are able to pay for the professional services rendered.
Beneficiaries
General Public
Program Areas Served
None
CEO/Executive Director/Board Comments
| GTC's operations are closely supervised by an involved Board of Directors who meet formally and informally and regularly consult with staff between meetings. In most instances, GTC serves as the conservator of both the person and his assets. These conservatorships are set by court appointment and are subject to regular reporting and oversight requirements of the courts. As a trust company with a Certificate of Authority from the Tennessee Department of Financial Institutions, GTC is also subject to the regulatory oversight of the state as regards the management of client assets. GTC must also provide regular reports on its handling of client funds to agencies such as the Veterans Administration and the Social Security Administration. GTC is the only non-profit organization in middle Tennessee offering free services to indigent clients. Where most trust management services are for-profit and can afford to turn down all but the wealthiest clients, GTC has instituted a 'Self-Settled Pooled Trust' to hold funds for Supplemental Needs for qualifying individuals with as little as $2,500 to invest. By pooling the funds for investment, GTC enables the clients to receive professional investment management services at a fraction of their usual cost-- meanwhile ensuring through careful disbursement procedures that the client does not lose access to means-tested benefits. Despite a proven record of success, GTC lacks the resources to market its services to clients who can afford to pay the professional fees that keep GTC operating to serve indigent and paying clients alike. We hope to expand our web presence as our resources allow for better site optimization. At the same time, our software is not designed for shared investment accounts, and the system we are using will not be tenable if attract significantly more investors to the pooled fund, as we hope to do. |
