Fiduciary Services
We specialize in accounts that are funded with proceeds from personal injury actions. We are the only national trust bank in the United States with this exclusive focus.
Each client receives service from a dedicated team focused on providing customized solutions and exceptional service.
Administration services we provide include:
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Accounting for trust income and principal
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Payment of bills and taxes
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Collection of income, interest, and dividends
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Preparation and filing of administrative court and agency accountings
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Preparation of fiduciary tax returns
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Assignment of a dedicated Fiduciary Advisor who provides support and advice to improve outcomes for beneficiaries
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Daily cash management
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Maintenance of records
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Safeguarding and custody of trust assets
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Referrals to third party professionals such as caregivers, specialized care advisors and educational consultants
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Facilitating the purchase of vehicles, homes for beneficiaries, and modifications to homes
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Budgeting and cash flow planning
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Development and review of expenditure plan
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Referrals to trusted vendors and professionals
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Other services as needed
Accounts Designed to Protect What Matters Most
First Party Special Needs Trust
A Special Needs Trust (SNT) aims to protect the beneficiary’s public benefits eligibility and allows funds in the trust to enhance the beneficiary’s quality of life by paying for items such as extra care giving, therapies, recreation, homes, vehicles, and educational opportunities.
Master Trust for Adults
The Inspire Trust Master Trust for Adults is for individuals receiving litigation proceeds who desire the protection and privacy of a trust and professional investment management. A beneficiary may either choose to direct the Trustee regarding the use of their funds or allow the Trustee to exercise discretion over distributions for items such as housing, transportation, medical needs, and recreation. Our Master Trust for Adults is accessed by signing a joinder agreement.
Medicare Set-Aside Accounts
A Medicare Set Aside (MSA) may be used when an individual is receiving litigation proceeds and the recipient is receiving, or is expected to receive, Medicare benefits for the injury. Inspire Trust will serve as Trustee for funds allocated to an MSA and will delegate the administration to an outside administrator with the ability to evaluate medical claims.
Court Created Trusts
In some circumstances, the court will use its power to create a trust for the recipient of funds related to a personal injury matter. These trusts are typically under the continuing supervision of the court, and most are created for minors or incapacitated individuals.
Settlement Protection Trust
A Settlement Protection Trust is irrevocable and funded by a settlement from a personal injury proceeding. Settlement Trusts can benefit those living with disabilities, but a disability is not required. The document may permit conversion to a Special Needs Trust in the event of later disability.
Master Trust for Minors
Courts sometimes require that a minor’s litigation proceeds be placed in a “blocked” or restricted account. Our Master Trust for Minors will satisfy the court’s requirement to protect the funds but allow for distributions to cover needed expenses such as education, recreation, or medical needs. Accessed by signing a joinder agreement, Inspire’s Master Trust for Minors can be used for any size of settlement.
Wrongful Death Trusts
Wrongful death occurs when the actions of a person or entity cause someone’s death. When the plaintiff in a wrongful death lawsuit is a minor, the court will require that their funds be placed in trust. We are able to administer such trusts in several forms, for compliance with various state requirements.
Guardian/Conservatorship of the Property/Estate
If an individual does not have legal capacity to handle their own financial affairs, either as a child or due to incapacity, Inspire Trust may accept court appointment as Guardian or Conservator of the Property or Estate. Some courts prefer professional management of the ward’s assets.
We offer a range of trust and fiduciary account options built to safeguard your settlement funds and support your wellbeing today and into the future.