Nancy Gold (Larry's Personal Advocate), Larry, Alice Elliott, and Morton Asch, UJA-Federation's Director of Planned Giving and Endowments
Larry is the beneficiary of an Adult Supplemental Needs Trust, which was sponsored by the Bedford-Barrow-Commerce (BBC) Block Association through the UJA-Federation Community Trust for Disabled Adults. The BBC's sponsorship of Larry marked the first time a group outside of a beneficiary's family established an Adult Supplemental Needs Trust. The reason why this group helped Larry was quite simple: he was part of their neighborhood family. Although sponsorship of an individual's trust is not usually a concern for neighborhood block associations, it is a pressing issue for families with a developmentally disabled loved one.
Financial planning for a developmentally disabled friend or family member is more complicated than simply endowing them with financial assets. Government programs such as Supplemental Security Income (SSI) and Medicaid are important services for the developmentally disabled, but they are only available to individuals below a certain income level. Thus an inheritance can make an individual ineligible for government services, but the money often does not compensate for the removal of these programs. Yet, these programs only cover the bare necessities: food, clothing, shelter and health care. Anything extra that improves the quality of life (social activities, transportation, and in the case of Larry pet care) is not covered with SSI.
To raise money for Larry's Trust the BBC holds a rummage sale during their annual street fair.
However, government established rules for individuals who receive SSI and Medicaid to be able to retain their benefits while their assets are held in a Supplemental Needs or Special Needs Trust. These trusts are specially designed to supplement the services already provided by the government. The beneficiary does not handle the money directly. Instead, a third party manages and distributes the money.
Supplemental Needs or Special Needs Trusts are available through a variety of organizations. The BBC chose to sponsor Larry's Trust through the UJA-Federation, because it provides Larry with an entire network of services. The UJA-Federation provides third party management of the trust, and an advocate who ensures Larry's personal care and special needs are met. It was the best option for Larry and his community.
You can find out more about Supplemental Needs or Special Needs Trust on The Arc's national web site: http://www.thearc.org/development/whitepapers.htm
To find out more information on the UJA-Federation's Community Trust for the Disabled and the services this trust can provide, please call: 212-836-1339
If you would like to make a donation to Larry's Trust, send a check addressed to The BBC, 81 Barrow Street, NY, NY 10014. The BBC stands for the Bedford, Barrow, Commerce Block Association. All donations are tax-deductible.
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