Providing for Life’s Little “Extras”

Like many fifteen-year-old boys, Peter is a sports enthusiast who enjoys swimming and participating on his school’s track team, as well as in the school’s marching band. Born with Down syndrome, Peter also envisions a future similar to what his 18-year-old twin siblings envision – graduating from high school, continuing his education and living on his own.

RollKids_at-OSU-stadium_Peter-Roll“Providing for your child’s well-being is a big concern for any parent, but it’s especially daunting when a child has a disability that requires lifetime care and oversight,” said Christine, Peter’s mother.

To help provide for his future, Peter’s parents created a deferred trust fund through The Disability Foundation, a supporting organization of The Dayton Foundation, that friends and family also can contribute to today or through their estates.

“Our Disability Foundation trust gives us peace of mind in knowing that our estate gift for Peter will be protected and that others will be able to contribute to it as well,” Christine said.

Since 1998, The Disability Foundation, which administers the Ohio Community Pooled Annuity and Flexible-Spending Trusts, has been helping individuals and families provide the little “extras” that make their loved ones with disabilities’ lives meaningful. Through the foundation, a parent, grandparent, legal guardian or an individual with disabilities can establish a trust fund to provide fixed, monthly payments to pay for the individual with disabilities’ supplemental needs without jeopardizing the individual’s Medicaid or Supplemental Security Income benefits. Payments may be used to fund activities, such as travel, hobbies, recreation, entertainment, a personal caregiver, medical equipment and services not covered by Medicaid.

Today The Disability Foundation manages 443 current and deferred trusts, distributing more than $1.4 million to date to individuals with disabilities.

In the last fiscal year, the foundation has experienced tremendous growth in the number of new trusts, according to Kevin Hayde, executive director of The Disability Foundation. Between July 1, 2011, and June 30, 2012, individuals and families opened 93 new trusts with a total value of $1.3 million, compared to 71 new trusts totaling $1 million during the same time period in the previous year.

“More families are looking to The Disability Foundation as a tool to put money aside today, as well as to leave something after their passing to continue their financial support for the life of their loved one,” Kevin Hayde said. “They’re thrilled to know that they don’t have to disinherit their child with disabilities in order to protect the child’s medical or residential financial assistance.”

Also as of July 2011, The Disability Foundation is no longer reliant on outside funding to meet its operating budget. “This is remarkable considering The Disability Foundation received all of its revenue from our funding partners during the first years of incorporation,” Kevin Hayde said. “More importantly, we are helping families to feel good knowing that their child will be cared for in the future.”

Peter’s family agrees.

“It’s difficult to imagine what Peter’s needs will be after we are gone,” said Mark, Peter’s father. “It’s comforting to know that our Disability Foundation trust fund will help meet his supplementary needs, keeping him active and happy, without risking his governmental assistance benefits.”

Providing for Life’s Little “Extras”

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