Ask Experts Questions for FREE Help !
Ask
    RUSSPS's Avatar
    RUSSPS Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Sep 20, 2013, 06:09 AM
    What is a medical trust fund?
    What is a medical trust fund? How is the medical trust fund established? What procedures need to be followed to establish such?
    smoothy's Avatar
    smoothy Posts: 25,490, Reputation: 2853
    Uber Member
    		  
    #2

    Sep 20, 2013, 06:21 AM
    You want a lawyer to draw up a trust of any type. You do not want to do this yourself.
    RUSSPS's Avatar
    RUSSPS Posts: 3, Reputation: 1
    New Member
    		  
    #3

    Sep 20, 2013, 06:57 AM
    I am more interested in knowing what a medical trust fund is.
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
    current pert
    		  
    #4

    Sep 20, 2013, 09:16 AM
    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.
    RUSSPS's Avatar
    RUSSPS Posts: 3, Reputation: 1
    New Member
    		  
    #5

    Sep 20, 2013, 12:10 PM
    Quote Originally Posted by joypulv View Post
    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.
    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
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Medical trust fund [ 5 Answers ]

My niece needs double niece replacement. It is very expensive in excess of $60,000. We want to know how to set up a temporary medical fund for donations for her care.

Temporary Medical Trust Fund for Charity [ 2 Answers ]

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...

How to set up a trust fund for medical and related payments [ 1 Answers ]

How to set up a trust fund for medical and related payments

How to set up a medical trust fund [ 1 Answers ]

How to set up a medical trust fund

View more questions Search