Foundation Trust
ACHIEVE's Foundation Trust Information & ProceduresABOUT THE FOUNDATION TRUST
The ACHIEVE Foundation Trust is a Type “C” pooled Supplemental Needs Trust created under OBRA ’93 to help people with disabilities protect their money while staying eligible for government benefits like SSI and Medicaid.
The Trust is funded with the individual’s own money and may be set up by the individual (if able), a parent, grandparent, legal guardian, or the court. Each person has an irrevocable sub-account where funds can be safely held without affecting benefits. This is especially helpful for people who receive money from an inheritance, lawsuit settlement, or back payments.
Money from the Trust is used, at the Trustees’ discretion, to improve quality of life by paying for needs not covered by government benefits. These payments are meant to supplement—not replace—public assistance.
When the beneficiary passes away, any remaining funds stay with the nonprofit Trust to help support other individuals with disabilities and are not required to be repaid to the State.
ACHIEVE’s Foundation Trust has helped provide funds for…
- Social Outings
- Travel and Trips
- Sporting Events & Hobbies
- Personal Items
- Camp Experiences
- Vehicles
- Home Goods
… AND MUCH MORE!
THE TRUST
The ACHIEVE Foudnation Trust is a pooled Supplemental needs Trust established under federal and state law. It allows individuals with disabilities to protect their personal assets while maintaining eligibility for government benefits that are based on financial need. All distributions are made at the sole discretion of the Trustees and must be used for the exclusive benefit of the beneficiary.
ELIGIBILITY
Individuals under the age of 65 who are disabled (as defined by Social Security Law Section 1614(a)(3)[42USC1382c(a)(3)]) are eligible to establish an ACHIEVE Foundation Trust account. Eligibility is not affected by the type of disability, ethnicity, religious beliefs, or where the individual lives.
SUITABILITY
It is the responsibility of the beneficiary and their family or representatives to determine whether the ACHIEVE Foundation Trust is the right option for their needs. The Trust may not be the most cost-effective solution for manageing very small amounts of money due to monthly fees. The Trustees do not have knowledge of each individual’s personal circumstances and cannot determine whether the Trust is the best option for any specific person. We strongly encourage prospective beneficiaries to consult with an attorney, case manager, or other trusted advisor before funding an account.
ESTABLISHING AN ACCOUNT
to open an account, submit a completed Joinder Agreement (signed and notarized), any required supporting information, and funds payable to The ACHIEVE Foundation Trust, for the benefit of the beneficiary, to:
The ACHIEVE Foundation Trust c/o Business Office
125 Cutler Pond Road
Binghamton, NY 13905
Please allow up to 30 days for processing. The ACHIEVE Foundation Trust will contact the beneficiary or their representative if additional information is needed. The Trust reserves the right to accept or reject any Joinder Agreement.
Once approved, an acceptance letter, a copy of the signed Joinder Agreement, and information about account administration will be mailed to the beneficiary or designated contact. The beneficiary is responsible for submitting trust documents to Medicaid and/or other government agencies as required.
MINIMUM AND FEES
A $300 minimum deposit is required to open an account. Deposits must be made by check or money order; cash is not accepted. There is no enrollment fee. Monthly administrative fees apply based on the current fee scheduled and begin on the month after the account is established. Fees are deducted by the bank from the account before approved disbursements.