Why Should I Choose The Arc of New Mexico Trust?
Whether you are a family member, a person with a disability, an attorney or a professional in the field of disabilities – we’re here to help the beneficiary build a more secure financial future. The Arc Master Trust and The Arc of New Mexico know that planning for the future is critical for individuals with disabilities. We know that with the cost of living, not much is left after the bills are paid with government benefits. The Arc of New Mexico Special Needs Trust can make it possible for a person with a disability to retain their government benefits while having other funds protected in a special needs trust available for supplemental needs. In fact, a trust with The Arc of New Mexico allows the individual or a family to establish a secure fund for an indivdual to help pay for supplemental needs such as special equipment, a vacation, computer equipment, electronics, additional education, or business start-up funds. (The trust will supplement the beneficiary’s government benefits but not replace them.)
To learn more about the rules around benefits and trusts, visit the Social Security website for more information.
Almost all individuals with intellectual and developmental disabilities, wherever they live in New Mexico, receive some form of government assistance in the form of supplemental security income (SSI), supplemental security disability income (SSDI), or another benefit. These benefits provide only for basic needs — a place to live, food, medication and medical care through Medicaid or Medicare. The Arc of New Mexico fees are lower than most banks and private trustee services, with flat fees for trust administration services and no hourly or additional charges for phone calls or other activity, no minimum deposit, and no maximum limits on account balances. The trust funds are secure, accessible to the individual beneficiary and require only a small deposit and fee for start-up.
For many individuals with developmental disabilities, families are a major source of support and assistance. In order to offer both individuals and families a way through the loneliness and isolation that comes with total support of a person with a disability, we have established two forms of Trust services so that when family members are no longer able, there is still financial support for their loved one. The Arc of New Mexico has a long history of advocating with and for people with disabilities and we are here to help.
Our reliable and professional services are subject to annual audits, and a yearly trust examination by the Regulation and Licensing Department/Financial Institutions Division. In addition to our expertise in trust management, we offer insight into meeting the needs of people with disabilities. We apply that knowledge and experience to the administration of each account while always keeping the best interests of the beneficiary in mind.