Fiduciary services

At Inspire Trust, our focus is on providing our clients with comprehensive administration and investment services for First Party Special Needs Trusts, Settlement Trusts, Court Created Trusts/Accounts and Inspire Trust Company’s Master Trusts.

We specialize in accounts that are funded with proceeds stemming from personal injury actions and are the only national trust bank in the United States with this exclusive focus.

Each client receives service from a dedicated team focused on providing them customized solutions and exceptional service.

Administration services we provide include:

  • Accounting for trust income and principal

  • Payment of bills and taxes

  • Collection of income, interest, and dividends

  • Preparation and filing of administrative court accountings

  • Preparation of fiduciary tax returns

  • Assignment of a dedicated Fiduciary Advisor           

  • Daily cash management

  • Maintenance of records

  • Safeguarding and custody of trust assets

  • Referrals to third party professionals

  • Development and review of expenditure plan

  • Facilitating the purchase of vehicles and residential real estate

  • Referrals to trusted vendors and professionals

  • Other services as needed

Account Types offered

First Party Special Needs Trust

A Special Needs Trust (SNT) aims to protect public benefits eligibility and allows funds in the trust to enhance quality-of-life for the beneficiary by paying for items such as extra care giving, therapies, recreation, homes, vehicles, and educational opportunities.

Settlement Trust

A Settlement Trust is an irrevocable trust funded by funds from a personal injury proceeding.  Settlement Trusts can be used for people living with disabilities, and those without.The document may permit conversion to an SNT.

Guardian/Conservatorship of the Property/Estate

If an individual does not have legal capacity to handle their own financial affairs, either due to minority or incapacity, Inspire Trust may accept court appointment as Guardian/Conservator of the Property/Estate.

Wrongful Death Trusts

Wrongful death occurs when the actions of a person or entity cause someone’s death. When this happens, a wrongful death lawsuit can be filed by certain surviving family members or by a personal representative from the estate of the deceased. When the plaintiff in a wrongful death is a minor, the court will require that their funds be placed in trust.

Medicare Set-Aside Accounts

A Medicare Set Aside (MSA) may be used when an individual is receiving litigation proceeds and the recipient is receiving or is expected to receive Medicare. Inspire Trust will serve as Trustee for funds allocated to a MSA and will delegate the administration to an outside administrator with the ability to evaluate medical claims.

 Master Trust for Minors

Courts sometimes require that a minor’s litigation proceeds be placed in a “blocked” or restricted account. Inspire Trust’s Master Trust for Minors will satisfy the court’s requirement to protect the funds but allow for distributions to cover needed expenses such as education, recreation, or medical needs. Accessed by signing a joinder agreement, Inspire’s Master Trust for Minors can be used for any size of settlement, but is often most appropriate for smaller settlements.

Court Created Trusts

In some circumstances, the court will use its power to establish (create) a trust for the recipient of funds related to a personal injury matter. These trusts are typically under the continuing supervision of the court and most often set-up for minors or incapacitated individuals. 

Master Trust for Adults

The Inspire Trust Master Trust for Adults is for individuals receiving litigation proceeds who desire the protection and privacy of a trust, and professional investment management. A beneficiary may either choose to direct the Trustee regarding the use of their funds or allow the Trustee to exercise discretion over distributions for items such as housing, transportation, medical needs, recreation, and vehicle. The Inspire Trust Master Trust for Adults is accessed by signing a joinder agreement.