Southeastern Trust Company, a division of Atlantic Capital Bank, N.A. announced today the establishment of a new special needs pooled trust, “Friends of Special Children (FOSC) Tennessee Pooled Trust” in partnership with Friends of Special Children, a 501(c)(3), non-profit organization.
“The Chambliss firm was pleased to donate its time pro bono for the creation of this important trust, the first of its kind in our part of the State, which will serve special needs persons, elders and their families”
The trust allows special needs individuals in Tennessee who receive public benefits to keep their benefits in the event they receive funds from a settlement or inheritance. The settlement or inheritance is placed in a sub-account within the pooled trust and the trustee has discretion over disbursements. The trustee discretion allows the special needs beneficiary to continue receiving their benefits while using the trust funds for their supplemental needs.
“We are delighted to partner with Friends of Special Children to launch a new pooled trust, which offers families in Tennessee an alternative option for helping their loved ones reach lifelong independence,” said Bart Rolen, Managing Director, Southeastern Trust Company. “Our staff has over 120 years of combined trust and wealth management experience, we can help families and individuals navigate the complex rules associated with government benefits and eligibility guidelines.”
Southeastern Trust Company will manage the client and beneficiary financial assets as the Operating Trustee for the pooled trust. The new pooled trust option for people with disabilities and their loved ones, offers financial oversight and guidance, long-range planning strategies, compassionate and individualized care management, and specialized trust management services.
“We are thrilled with this partnership with Southeastern Trust Company to establish Friends of Special Children (FOSC) Tennessee Pooled Trust. This provides a tremendous opportunity to help improve the lives of those with special needs in our community,” stated Anne Stone, President of Friends of Special Children. Friends of Special Children is the Managing Trustee for the pooled trust.
FOSC Tennessee Pooled Trust also performs as an estate planning tool for those with special needs children or relations.
“The Chambliss firm was pleased to donate its time pro bono for the creation of this important trust, the first of its kind in our part of the State, which will serve special needs persons, elders and their families,” said Chambliss attorney Leah McElmoyl.
For more information about FOSC Tennessee Pooled Trust, or to consult with us about setting up a trust for yourself or a family member, please call 423-668-3073 or visit us on the web at www.tnpooledtrust.org.
About Southeastern Trust Company, a division of Atlantic Capital Bank, N.A.
Southeastern Trust Company is a division of Atlantic Capital Bank, N.A., which is a division of Atlantic Capital Bancshares, a $2.6 billion publicly traded bank holding company headquartered in Atlanta, Georgia. Southeastern Trust offers a variety of Trust and Estate, Investment Management and Special Needs Trust Services. The firm provides a family office style approach for clients and is staffed by a team of advisors with over 100 years of industry experience. For more information, visit our website at www.setrustco.com.
About Friends of Special Children (FOSC)
Friends of Special Children in Chattanooga is a 501(c)(3) non-profit organization, dedicated to helping children with special needs since 2003. FOSC supports Signal Centers whose mission is to strengthen children, adults and families through services focusing on disabilities, early childhood education and self-sufficiency. Signal Centers’ school and services support over 120 children with disabilities and 55 geriatric and/or disabled adults. www.friendsofspecialchildren.org