Each guardianship of an estate and special needs trust requires sensitivity to the unique needs of that family member with special needs, balanced with the expertise necessary to properly manage that individual’s estate or trust for his or her benefit. Special needs trusts must be designed and administered so that the beneficiary is not disqualified from helpful government programs such as Social Security and Medicaid, while Guardianships require the ability to work closely with state courts over time to best benefit the family member.
With a keen understanding of both the human and the financial needs associated with these special circumstances, MB Financial Bank’s fiduciary advisors bring a wealth of experience and expertise to the administration of MB guardianships and special needs trusts.
The needs of each individual are different
Depending on the needs of the individual and the family, MB’s services may include:
- Administration and counsel by a professional experienced with children with special needs and disabled adults
- Coordination between MB as guardian or trustee, the attorney and the courts
- Impartial management by an unbiased professional
- Prompt collection of receivables due to an estate or trust
- Record keeping and preparation of court accountings
- Timely and accurate reporting
- Bill payment
- Medical insurance claim filing
- Asset collection and custody
- Investment management
- Income and transfer tax planning
- Real estate and other special asset management