Managed Trust Funds
Families frequently face challenges in leaving money to a disabled family member due to their lack of capacity to deal with finances. Families may also find that relatively small amounts of money are not welcome at managed funds with professional trustees.
The Trust has developed a service that allows families to establish a Managed Trust Fund (MTF) that is managed by The Hawkevale Trust to meet the ongoing needs of a disabled family member.
How it works
- A Managed Trust Fund can be created at any time or established as part of a Will.
- The funds will be invested in common with other Trust money held by The Hawkevale Trust and separate accounts will be maintained for each person's funds.
- The funds will be invested in interest-bearing accounts with licensed banks unless a family instructs The Hawkevale Trust to invest their funds elsewhere.
- The money is applied by The Hawkevale Trust for the benefit, maintenance and advancement of the disabled person. The Hawkevale Trust will apply the funds as it sees fit and families can leave their own instructions.
- Managed Trust Funds are typically used for a wide variety of needs, such as purchasing or replacing household items, holidays or buying personal items.
- If the disabled family member has a valid Will, The Hawkevale Trust will transfer the funds after their death to the nominated beneficiaries. If the disabled person is incapable of preparing a Will, The Hawkevale Trust will follow the instructions given by the family at the time of establishing the Trust Fund.
Benefits of using The Hawkevale Trust MTF
- The Hawkevale Trust personnel have direct experience and involvement with people with disabilities, and they apply this experience when considering the needs of the person for whom the funds are to be used.
- There is no minimum limit on the amount of money that can be placed in trust, therefore families with relatively limited means are able to leave provisions for their disabled family member.
- The investment policy of The Hawkevale Trust is very conservative, and fees are kept to a minimum, so families can be confident that funds will remain in place for the benefit of the family member.
For more information
- Additional Managed Trust Fund information (PDF, 75 KB)
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