Settlement Management National Pooled Trust

When a person suffers an injury it can have devastating consequences on every aspect of their life. The ability to earn a living can be lost. Sky high medical bills can accumulate in the blink of an eye. Credit can be ruined in an instant. Frequently this leads to the need to effectively manage the personal injury recovery at settlement. This is where the SMNPT can help. By joining the SMNPT, an injury victim can protect their settlement proceeds, have professional management of their monies with affordable trustee fees and obtain needed healthcare coverage thru the Affordable Care Act. SMNPT can provide taxable distributions to make sure the injury victim can get the maximum tax subsidies available.

The Settlement Management National Pooled Trust (SMNPT) was created as a cost effective way to manage the settlement proceeds for minors and incompetents. It is an alternative to establishing a guardianship and provides liquidity as well as flexibility for the injury victim. The trust is an irrevocable spendthrift that can be used for the health, welfare, maintenance and support of the trust beneficiary. For minors, it can be set up with future lump sum distributions. A court order must authorize the future distributions if the settlement involves a minor. The trust does contain provisions allowing the trustee to transfer the trust assets into a pooled special needs trust in the event that the trust beneficiary needs to qualify in the future for needs based benefits such as Medicaid or SSI.

A pooled trust must be established by a non-profit. SMNPT was established by The Foundation for Those With Special Needs, Inc. (FTWSN). FTWSN is the Trustee of the SMNPT. FTWSN is a non-profit 501(c)(3) dedicated to helping those with special needs and supporting other charitable organizations that protect and promote the civil justice system. The Foundation was created as a way to give back to the civil justice system, support those that need its protections, and to serve as a trustee for SMNPT.

Fees:

  • SMNPT’s fees are by far one of the lowest in the country.
  • One-time fee at inception of $550.00
  • Annual fee of one percent (1%) of the assets held in trust*

*Calculated as a percentage of the assets held in the trust and charged quarterly.  For example, if the balance in the trust at the beginning of the quarter is $100,000, then the fee for the quarter would be $250.00 (($100,000 X 1%)/4). It would be taken out each quarter in $250.00 increments. In addition to the 1% annual fee, investment fees may be incurred depending on the selected portfolio.

Testimonials

Many of my clients have joined or have helped a family member join the Settlement Solutions National Pooled Trust. My experience working with this pooled trust has always been very positive.

Derek B. Alvarez, Tampa, FL

The Settlement Solutions National Pooled Trust are user friendly, fast, efficient and most importantly cost effective.

Anthony F. Diecidue, Esq., Tampa, FL

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