Special Needs Trust: CPAs & Attorneys

Non-Deposit Investment Products are: not insured by the FDIC; not a deposit or other obligation of, or guaranteed by, the bank; subject to investment risks, including possible loss of the principal amount invested. 

Preserve Government Benefits and Protect Clients’ Assets With a Special Needs Trust

For parents with a child with special needs, it is essential to prepare a financial plan for the lifespan of that child.  They must maneuver the complexities of providing financial independence to him or her.  Navigating benefit systems is difficult enough without the added challenge of providing accessible income while retaining applicable government benefits. It might be time to look into a Special Needs Trust. 

Parents of a child with special needs naturally look to their attorneys and CPAs as trusted advisors and, as such, often initiate financial planning discussions specific to their child’s future. One way to increase the scope of your practice and deepen the value of your client relationships is to engage a strategic partner that is focused on supporting and extending your wealth management capabilities.

Our wealth management officers will consult with your firm to help set up a Special Needs Trust to provide income for your client or another beneficiary.

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Ways Texas Gulf Bank Wealth Management Can Assist Your Clients with a Special Needs Trust:

• Provide clients with access to Special Needs Trusts including First Party, Third Party and Court-Ordered Trusts that avoid jeopardizing government benefits.

A Special Needs Trust is designed for the benefit of an individual with a disability. It is written so the beneficiary can enjoy the use of property that is held in the trust for his or her benefit, while at the same time allowing the beneficiary to preserve government benefits and protect assets.  

• Serve as the professional trustee to provide financial support for clients with special needs by overseeing the trust property and administration of funds.

While being named as trustee is an honor, it is also a complex and demanding responsibility for your clients. Our wealth management officers are equipped to handle tasks associated with administering your client’s trust and carrying out your client’s instructions, while the client retains overall responsibility for the trust.   When appointed to serve as agent for trustee, Texas Gulf Bank can help simplify a client’s role as trustee and help fulfill the numerous administrative requirements of a trust.

Attorneys and Accountants who want to offer wealth management services for clients can benefit from a knowledgeable partner. By partnering with Texas Gulf Bank, accountants and attorneys can speak with clients about wealth management services and then leave the account management and compliance to us.

Want to Learn More?
Contact Our Wealth Management Department at 713-595-7432