Common Contracts
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SELF-FUNDED ACCOUNT NOTICEMarch 23rd, 2021
THIS APPLICATION AND RELATED CONTRIBUTION AGREEMENT WILL ESTABLISH AN IRREVOCABLE TRUST ACCOUNT. ESTABLISHING THIS TRUST ACCOUNT HAS POTENTIAL TAX AND PUBLIC BENEFIT EFFECTS FOR THE BENEFICIARY. THE APPLICANT IS STRONGLY ADVISED TO SEEK LEGAL COUNSEL, WITH EXPERTISE IN ESTATE PLANNING FOR PEOPLE WITH DISABILITIES, INCLUDING RELATED TAX ISSUES AND GOVERNMENTAL BENEFITS, ABOUT THE TAX EFECTS OF ESTABLISHING THIS TRUST ACCOUNT AND THE EFFECT OF PLACING ASSETS IN THIS TRUST ACCOUNT ON THE BENEFICIARY’S ELIGIBILITY FOR PUBLIC BENEFITS. THIS PROFESSIONAL GUIDANCE SHOULD BE SOUGHT BY THE APPLICANT TO ASSIST THE APPLICANT IN PREPARING THIS APPLICATION, THE CONTRIBUTION AGREEMENT AND RELATED DOCUMENTS.
