Let us re-introduce Alabama Family Trust. Back in 1994, the Alabama Legislature passed the statute to create Alabama Family Trust. For the past 25 years, Alabama Family Trust has been the only non-profit, pooled trust company in Alabama administering $30M+ in special needs trust assets for disabled children, adults, and seniors.
Board of Trustees
Its Board of Trustees are appointed by the governor of Alabama, the presiding officer of the Alabama Senate, and the Speaker of the Alabama House of Representatives. All appointments are then confirmed by the Alabama Senate. The Board represents the interests of persons with mental and physical impairments and developmental disabilities who depend on special needs disability trusts. All board members serve without compensation and are appointed to three-year terms. They serve because they genuinely care about all of the children and adults whose family members and friends entrust the Alabama Family Trust with managing their special trust accounts.
Special needs trusts complement government programs such as SSI and Medicaid and do not replace the benefits from those programs. For 25 years, Alabama Family Trust has administered trusts that range in size from $1,500 to millions.
Resource for Attorneys
For attorneys setting up special needs trusts, Alabama Family Trust provides online documents and ongoing support to the trusts’ co-trustees. Plaintiff lawyers can protect court settlements, child support, alimony, or inheritances so that any government benefits are not endangered.
Alabama Family Trust has also offered a Charitable Trust fund designed to help past and present life beneficiaries. The co-trustee for a life beneficiary who has depleted their trust account can apply to the Alabama Family Trust Charitable Trust for a specific needed item or service. Grants are based on the number of requests received each quarter and the demonstrated need for the life beneficiary.
Investment Management Partner
Warren Averett Asset Management, advisor for over $2.4B in assets, provides Alabama Family Trust beneficiaries unique, comprehensive investment services of recordkeeping, administrative services, and investment management all under one firm umbrella. As a result, Alabama Family Trust’s pooled trust offers trust beneficiaries lower fees, streamlined reimbursements, and robust investment options based on their individual situations.
Ask your lawyer if a special needs trust through Alabama Family Trust might be right for your disabled family member. The staff at Alabama Family Trust will be glad to talk to you or your attorney at 205-313-3195, [email protected], or www.alabamafamilytrust.com.