Hamilton Herald Masthead


Front Page - Friday, February 5, 2016

Chambliss attorneys help to create special needs pooled trust

Dana Perry, Chambliss, Bahner & Stophel attorney; Bart Rolen, managing director, Southeastern Trust Company; Mike Kramer, president and COO, Atlantic Capital Bank; Gail Davis, trust specialist, Southeastern Trust Company; Leah McElmoyl, Chambliss attorney; Teresa Whitton, trust officer, Southeastern Trust Company; and Anne Stone, president, Friends of Special Children. - (Photo provided)

Chambliss, Bahner & Stophel attorneys recently volunteered to help establish a new special needs pooled trust. Southeastern Trust Company, a division of Atlantic Capital Bank, last week announced the establishment of the Friends of Special Children (FOSC) Tennessee Pooled Trust, in partnership with Friends of Special Children, a 501(c)(3) non-profit organization.

The trust allows special needs individuals in Tennessee who receive public benefits to keep their benefits in the event they receive funds from a settlement or inheritance. The settlement or inheritance is placed in a sub-account within the pooled trust, and the trustee has discretion over disbursements. The trustee discretion allows the special needs beneficiary to continue receiving their benefits while using the trust funds for their supplemental needs.

“The Chambliss firm was pleased to donate its time pro bono for the creation of this important trust, which will serve special needs persons, elders and their families,” said Chambliss attorney Leah McElmoyl.

Southeastern Trust Company will manage the client and beneficiary financial assets as the operating trustee for the pooled trust. The new pooled trust option for people with disabilities and their loved ones offers financial oversight and guidance, long-range planning strategies, individualized care management, and specialized trust management services.

“We’re delighted to partner with Friends of Special Children to launch a new pooled trust, which offers families in Tennessee an alternative option for helping their loved ones reach lifelong independence,” said Bart Rolen, managing director, Southeastern Trust Company. “Our staff has over 120 years of combined trust and wealth management experience, allowing us to help families and individuals navigate the complex rules associated with government benefits and eligibility guidelines.”

The FOSC Tennessee Pooled Trust also serves as an estate planning tool for those with special needs children or relations.

For more information about the FOSC Tennessee Pooled Trust, or to inquire about setting up a trust, call (423) 668-3073, or visit www.tnpooledtrust.org.

Source: Some information from Southeastern Trust Company