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Special Needs Trust Services

Wells Fargo is one of the oldest and largest national providers of Special Needs Trust administration in the United States today.

A Special Needs Trust is a legal entity used to set aside money or property for the benefit of a child or adult living with a disability. According to the U. S. Census Bureau, about 49.7 million Americans are living with a disability and about two-thirds of these individuals are living with a severe disability.

For some individuals, the disability may be caused by a sudden, life-altering accident. For others, the condition may arise at birth or result from a chronic illness. Whatever the origin, severe disabilities almost always create a significant financial burden due to curtailed earning power and ongoing expenses.

Wells Fargo Special Needs Trust Services

At Wells Fargo, the Special Needs Trust is a core capability and not an “add-on” service or afterthought. Our services for Special Needs Trust clients go far beyond management of trust assets. We believe in working closely with each client and family to help the beneficiary pursue the highest possible quality of life.

Our approach to Special Needs Trust

Our approach includes an initial assessment of the needs, resources and desires of the beneficiary. This information allows us to present the beneficiary with a comprehensive plan detailing suggested services and approaches for dealing with long-term needs.

After implementing the plan, Wells Fargo monitors the results regularly and makes adjustments as the beneficiary’s needs change over time.

Wells Fargo supports the beneficiaries of a Special Needs Trust in three primary ways:

  1. Helping to preserve government benefits by managing the trust properly
  2. Helping to meet long-term cash flow needs with prudent management of trust assets by professional investment managers
  3. Helping to enhance the quality of life by working with your legal advisors to implement the Special Needs Trust so that it provides a wide range of quality-of-life activities and services, including education, recreation and custom living arrangements

Special Needs Trust Services provided by a team of specialists:

  • Portfolio management
  • Professional services coordination
  • Budgeting
  • Bill-pay
  • Tax review in conjunction with professional tax advisors
  • Insurance evaluation
  • Real estate management including an evaluation of housing options

Team-based service

Each Special Needs Trust is managed by a specialist dedicated to Special Needs Trusts who works with a team of Wells Fargo professionals.
Wells Fargo Special Needs Trust
 
Establishing a Special Needs Trust is a complicated exercise with important long-term implications for your loved one’s care and quality of life and should be done in consultation with your professional legal advisors.
Contact us to discuss how a trust can be designed and managed to fit your unique circumstances and help provide the beneficiary a life of fulfillment and dignity.

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Wells Fargo Private Bank provides products and services through Wells Fargo Bank, N.A. and its various affiliates and subsidiaries.

Brokerage products and services are offered through Wells Fargo Advisors, LLC, Member SIPC, a registered broker-dealer and separate non-bank affiliate of Wells Fargo & Company.

Wells Fargo & Company and its affiliates do not provide legal advice. Please consult your legal advisors to determine how this information may apply to your own situation.

Whether any planned tax result is realized by you depends on the specific facts of your situation at the time your taxes are prepared.


Wells Fargo Bank, N.A. Member FDIC
Investment and Insurance Products: Are Not insured by the FDIC or any other federal government agency - Are Not deposits of or guaranteed by the Bank or any Bank Affiliate - May Lose Value