WHAT IS TRUST?



A trust is a legal arrangement whereby a trustee administers the trust assets of the Settlor for the benefit of the Beneficiary named in the trust.

WHAT IS SNTC TRUSTEESHIP SCHEME ?

SNTC Trusteeship Scheme is unique in providing trust services only to
** Beneficiaries who have special needs.

Under this Scheme, before setting up a trust, a Settlor will consult SNTC’s case manager to develop a care plan, set out in the Letter of Intent, to consider the financial and care needs of the intended Beneficiary. This will provide the Settlor a financial guide on the amount that would be required to be set aside for the trust to provide for the Beneficiary after the Settlor has passed on.

The trust funds of the Settlor under SNTC Trusteeship Scheme will be invested and managed by the Public Trustee. Upon activation of the trust, the trust funds will be administered by SNTC, according to the wishes of the Settlor set out in a Letter of Intent attached to the Trust Deed.

**Beneficiaries with special needs: Persons with special needs defined as those whose prospects of securing, retaining places and advancing in education, training institutions, employment and recreation as equal members of the community are substantially reduced as a result of physical, sensory, intellectual and/or developmental impairments.


SETTING UP A TRUST ACCOUNT

The Settlor meets SNTC’s case manager to develop a care plan, and this will be reflected in the Letter of Intent, to consider the financial and care needs of the intended Beneficiary under the SNTC Trusteeship Scheme.

The Letter of Intent is attached to the Trust Deed so that SNTC will administer the trust funds according to the wishes of the Settlor, upon activation of the trust.

The Settlor will need to appoint a guardian or deputy (usually a sibling, close friend or relative of the Beneficiary) to review the Letter of Intent with SNTC’s case manager upon activation of the trust.


BEFORE ACTIVATION OF THE TRUST

Before activation of the trust, the Settlor may from time to time review the Letter of Intent with SNTC’s case manager to consider the future financial requirements and care needs of the Beneficiary, taking into account any changes in the nature of the Beneficiary’s condition.

Upon such review, the Settlor may amend/update the Letter of Intent.


UPON ACTIVATION OF THE TRUST

The trust under the SNTC Trusteeship Scheme is only activated upon the death or incapacity of the designated persons named in the Trust Deed.

Upon activation of the trust, SNTC will conduct a home visit with the guardian or deputy to assess the needs of the Beneficiary.

SNTC will administer the trust and disburse funds toward the payment of services received by the Beneficiary, in accordance with the Letter of Intent.

SNTC’s case manager will conduct annual reviews with the guardian or deputy on the current services received by the Beneficiary. If SNTC deems necessary and in the interest of the Beneficiary, SNTC will act on the recommendation of the guardian or deputy to meet any changes in the needs of the Beneficiary.

The guardian or deputy will be alerted when the balance in the trust account will not be sufficient to meet the financial needs of the Beneficiary for the following year.