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from Clients of EndGame Public Relations LLC in Richmond, Virginia
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CONTACT:
Steve Mullen
EndGame Public Relations for CCT
(804) 382-0017
steve@endgamepr.com
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Nonprofit Reminds
of the Need to Plan for the Future of the Disabled
October is National Disability Awareness Month
(Richmond, Virginia)
- October is National Disability Awareness Month, and a Richmond, Virginia-based
nonprofit organization is using the occasion to remind people that properly
providing for the future of disabled loved ones is not as easy as writing
a will. In fact, leaving a lump sum inheritance to a disabled person may
do more harm than good in the long run.
Commonwealth Community Trust (CCT), a nonprofit organization, was established in 1990 by parents of children with disabilities, and is managed by a board of directors that serves without compensation. The organization's sole purpose is to provide a simple and economical way to manage and administer trust funds, such as Special Needs Trusts, for people with disabilities. A Special Needs Trust (SNT) is a type of trust that's funded by a loved one and benefits a disabled person. CCT currently administers trusts totaling more than 12-million dollars, mostly for residents of Virginia.
"It's not something most people like to think about, but it is critical to plan for what will happen to our loved ones when we are no longer here, particularly when those loved ones are disabled," said CCT Executive Director Joanne Marcus. "Having a plan is necessary because simply willing an estate to a disabled person may endanger critical public benefits."
Public benefits can help pay for ongoing services that are necessary to the health of the disabled. Many of these public benefits are income-based, and a sudden significant leap in income can lead to the benefits being suspended. A properly managed SNT, however, can provide improved quality of life by supplementing these programs.
SNTs can be set up in two ways. The first isn't funded or distributed until the time of the benefactor's death. The second is funded while the benefactor is still alive, and can be distributed at any time. SNTs can be set up by anyone, regardless of their relationship to the beneficiary.
To set up an interview for a media story about planning for the future of disabled loved ones, please call or email the contact person at the top of this release. For more information on Special Needs Trusts, please contact Commonwealth Community Trust.
About Commonwealth
Community Trust
Commonwealth Community Trust (CCT), a 501(C) 3 organization based in Richmond,
Virginia, was established for residents of the commonwealth to provide
a convenient and economical way to have trust funds administered for people
with disabilities. Their mission is to enhance government programs for
the lifelong special needs of the beneficiary so that he or she can live
securely. For more information, call (804) 740-6930, or visit http://www.commonwealthcommunitytrust.org.
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