Can an organization such as the YMCA open a temporary medical trust fund? There is a group that would like to make contributions to a person that is in need of money to pay for a cancer surgery. This person does not have the necessary finances to cover the deductibles, copays and so on needed for the necessary medical care. Can this be done at any bank in our area by the YMCA? Can the fund be set up to pay only medical expenses?

Hello Linda:

Yes, yes & yes.

I don't know what the YMCA has to do with this group. The group itself could set up the fund - or the Y can do it. I'd have a lawyer draw up the parameters of the fund.

excon

Or, any bank can be trustee, no lawyer needed.