What is a medical trust fund? How is the medical trust fund established? What procedures need to be followed to establish such?

You want a lawyer to draw up a trust of any type. You do not want to do this yourself.

I am more interested in knowing what a medical trust fund is.

It could be anything from a charity that gives interest earned on funds, and possibly fund raising, to a medical facility, all the way to a fund designed to pay one person's medical costs only.
Usually a lawyer draws up a trust in conjunction with a bank, and usually designates two trustees, which might commonly be the bank and one lawyer, or the bank and a family member. There are other possibilities.

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Originally Posted by joypulv

It could be anything from a charity that gives interest earned on funds, and possibly fund raising, to a medical facility, all the way to a fund designed to pay one person's medical costs only.
Usually a lawyer draws up a trust in conjunction with a bank, and usually designates two trustees, which might commonly be the bank and one lawyer, or the bank and a family member. There are other possibilities.

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Thank you for the information. We will be consulting with an attorney for the proper language and state and federal law requirements. The medical trust we are interested in is one for the medical expenses of an individual. Thanks again.

Russ