Frequently Asked Questions
The most appropriate type of trust depends on several factors, such as the eligibility of the beneficiary for different types of trusts, the source of the assets that will be used to fund the trust, and the intended use of the trust funds. Please see our page on the types of trusts we offer at Life Enrichment Trust (LET) for more information on the different types of trust offered by LET. Also, contact LET to speak directly with an expert from LET about the different options available.
LET supports beneficiaries living across the nation. The majority of LET beneficiaries reside in Pennsylvania, New Jersey, Ohio, and Colorado.
LET serves as trustee for trusts of various sizes, ranging from multimillion dollar trusts to trusts that are less than a thousand dollars.
Beneficiaries can access funds in their account by submitting a disbursement request to LET, or by using their True Link Visa Prepaid Card, which is cited in the Social Security Program Operations Manual System (POMS) as an authorized disbursement method. All disbursements that are approved by LET are in accordance with applicable regulations and the language in the beneficiary’s trust agreement. For LET trust funds utilized through the True Link Visa Prepaid Card, beneficiaries submit receipts to document that the funds have been used appropriately per the trust documents.
Beneficiaries can access their account information at any time through True Link’s secured, online platform (the “portal”). On the portal, a beneficiary can view their account activity and download statements. In addition, beneficiaries have the option to sign up for hard copy statements to be mailed to them on a quarterly basis.
For all trusts, as soon as LET is notified that a beneficiary has passed away, the process to close the beneficiary’s trust is initiated.
The specific next steps for the funds in the trust account at the time of the beneficiary’s passing depend on the type of the trust, the regulations within the state in which the trust was established, and the language specified in the executed trust documents.
For pooled special needs trusts, upon a beneficiary’s passing, LET sends a notification to the applicable state Medicaid Office to identify if there is a Medicaid lien. If there is a Medicaid lien, the remaining funds in the trust are utilized to satisfy the lien, as applicable, per regulations, policies, and the executed trust documents. Any funds that remain thereafter are disbursed, as applicable, per regulations, policies, and the executed trust documents.
Most prepaid burial plans can be funded through a beneficiary’s trust account, but must be done so prior to the beneficiary’s passing. An important note in particular is that for self-settled “payback” and pooled special needs trusts, after a beneficiary has passed away, trusts are prohibited by the Social Security Administration to make any further disbursements from the trust account, including payment for funeral expenses. LET therefore encourages all beneficiaries, or their advocates, to use prepaid funeral and burial options that are available through many financial institutions.
Yes, LET works with beneficiaries who have other investment services and advisors through non-custodial accounts. For beneficiaries who choose to use other investment advisors for stand-alone trusts, LET collaborates with the financial advisors to facilitate the access of funds for the benefit of the beneficiary in alignment with the trust documents and the beneficiary’s needs.
Yes, LET provides services to many beneficiaries who speak Spanish as their primary language, with LET staff fluent in Spanish providing support to beneficiaries and their families.