04/28/2020
We are pleased to announce that Community Living Corporation (CLC) a not for profit located in Mount Kisco NY, will launch its new Surplus Income Trust in May 2020. As you may know, CLC has sponsored both first and third-party trusts since 1995. Our trust is known to be among the first and largest in NYS.
Today we manage over $35,000,000 on behalf of over 350 beneficiaries. Annually, we have distributed about $3,000,000 to beneficiaries and we are characterized as a trust that maintains close working relationships with all our beneficiaries and families.
In December 2019 the Board of Directors of CLC authorized that we initiate a Surplus Income Trust. The Board has acted in response to the numerous requests of colleagues and Elder Care lawyers that we launch our trust in order to more fully serve the communities we are committed to. The new trust will be highlighted by the reputation of CLC which is considered a leader in the New York State Trust world.
Our fee schedule will be simple. There will be a one-time startup fee of $350 then an additional fee of $1,500 annually regardless of the size of the spend down. This will make the trust one of the lowest cost Surplus Income Trusts available for spenddowns of $2,500 per month or larger. In addition, there will be no co-trustee fee, no bank fee, and no charge for checks written.
Should you wish to learn more about our new Surplus Income Trust please free to call Amy Berman, the Executive Director of ADiCares. ADiCares is a CLC affiliate that manages the new trust for CLC. Amy can be reached at 914.244.9688 and she will be happy to answer any questions you might have. Should you wish to review our documents feel free to log on to our website at www.ADiCares.org.
Sincerely,
John Signorelli, Trustee
CLC Group
Our team of specialists at ADiCares help with Surplus Income Trusts in New York, and aging in place case management services for ongoing in-home care.