Tandem Trust
The Tandem Trust allows a Private Third Party Supplemental Trust (feeder trust) can transfer funds to Life’s Plan Inc. Third Party Pooled Supplemental Trust (subordinate trust) or a Private Payback (D4A) Trust (feeder trust) can transfer funds to Life’s Plan Inc. Self Funded Pooled Payback (D4C) Trust (subordinate trust). Depending on the type of the feeder trust will determine which pooled trust to establish. Once you have determined which type of pooled Trust fits your situation and needs you should begin to work with an attorney to establish the appropriate trust. Remember that the first and most essential distinction to be made in deciding what kind of trust to create is where the money is coming from.
Step 1. Obtain an Attorney
Step 2. Select Third Party Pooled or Self Funded Pooled Payback Trust
Step 3. (Pooled) Complete Forms
All applications and forms to open a new
trust subaccount can be provided by contacting Life’s Plan’s Trust Administrator, Erika Jones at 630-628-7169 or email at erikaj@raygraham.org.
Required Documentation and Disability Criteria
- Copy of State Identification, driver’s license or other identifying document to verify beneficiary with Patriot Act form.
- Proof of Disability:
a. Written proof of receipt of Supplemental Security Income/Social Security Disability Insurance (SSI/SSDI) benefits, which may consist of either a current pay stub or a letter and accompanying proof of receipt of funds within the last 60 days; OR
b. Letters of Office from court’s guardianship proceedings, not more than 60 days old; OR
c. A signed Physician’s Report OR statement affirming previous report, dated within the last 60 days.
Step 4. Send Forms to:
Life'sPlan, Inc.
2801 Finley Road
Downers Grove, IL 60515
Notice Regarding USA Patriot Act Information
Important Information About Procedures for Opening a New Account with Life'sPlan, Inc.
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth (in the case of an individual) taxpayer identification number, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying document in order to verify the information that you have provided to us. We are required by law to attempt to match the information provided by you against lists issued by various governmental agencies to confirm that you are not a known or suspected terrorist or in any way affiliated with a known or suspected terrorist group.
If you have any questions about this process, please discuss them with our trust administrator. Thank you for your cooperation with this process. |
