Trust Services Frequently Asked Questions

Legal and Financial issues can be difficult to navigate on your own. Here are some answers to some frequent questions we get, however, we are here to help you. Please contact us with any questions about your specific circumstances.

FAQs

- Does Life’s WORC need to be named guardian of the beneficiary in order to use a Life’s WORC
  Trust?
  No. While some of the people for whom Life’s WORC has been appointed guardian are also
  beneficiaries of a trust administered by the Life’s WORC , there is no requirement for such an
  arrangement. In many cases, a family member is the legal guardian of the person while Life’s
  WORC serves as the trustee of that person’s financial property.

- If a gift is made to a Life’s WORC trust, can additional money or property be added at a later
  time?
  Yes. If third parties (friends or relatives) wish to make gifts to the trust for someone, they must
  use the Life’s WORC Third Party Trust to do so. Funds can be added to this account at any time
  by third parties.

- Who can contribute to a Life’s WORC trust on behalf of a trust beneficiary?
  Only funds that belong to the person with disabilities can go into the Self-Settled (First Party)
  Trust. These funds can be added or transferred by the legal guardian, the authorized
  representative or the POA with legal authority to transfer funds to a trust for the person’s
  benefit.

- What is the minimum opening deposit to set up an account with Life’s WORC trusts?
  The trustees will accept any funding amounts of $500 or more for Self-Settled (First Party)
  Pooled Trusts. Third Party Pooled Trusts require a minimum deposit of $10,000 and Surplus or
  Excess Income accounts can be funded with a minimum of $300 . Individual SNT’s can be
  funded starting at $100,000.

- Can property be given to any Life’s WORC trust?
  Yes, tax-exempt securities and even certain types of personal property, such as works of art or
  real property, can be given to the trust subject to approval by trustees.

- Can the Life’s WORC Self Settled Trust or First Party Supplemental Needs Trust be designated
  as the beneficiary of a life insurance policy for the benefit of a person with disabilities?
  No. This should be left to the Life’s WORC Pooled or Individual Third Party Supplemental Needs
  Trust.

- What items can be paid for using trust funds?
  See the policy guidelines for paying trust funds, on behalf of a beneficiary. [link to policy
  document]

- Who manages the Life’s WORC trust?
  Life’s WORC and our current fiduciary partners, Key Private Bank are co-trustees of Life’s WORC
  trusts. The trust advisory committee, a group of knowledgeable individuals, who may be
  attorneys, financial planners, other professionals and parents of individuals with disabilities, has
  been appointed by the Life’s WORC board of directors to oversee the trust. They work in
  partnership with the seasoned team of investment managers at Key Private Bank, which has
  extensive experience managing individual and pooled trust funds.

- What assurance is there that the income and principal will be payable for the benefit of only
  the person whom the trust is for?
  The ultimate responsibility for payment made for each beneficiary rests with the trustees. The
  trustees, however, may rely on guidance from the guardian or advocate of the beneficiary (if
  one is appointed) to determine the needs of the person. All principal is invested prudently to
  ensure the availability of funds to the beneficiaries.

- Are the trustees required to file any accountings?
  An annual financial accounting of the trusts is submitted to the board of directors of Life’s
  WORC. This accounting is audited by a certified public accountant selected by the board of
  directors of Life’s WORC. The administrative trustee may also file accountings and reports to
  government agencies including; Department of Social Services, Social Security Administration or
  the court as requested.

- Who receives the monthly reports of the beneficiary’s accounts?
  Every month a bank statement is mailed showing all transactions for that month. This
  statement is sent to one or more of the following: the beneficiary, their legal guardian, the
  party designated on the trust application or joinder agreement including the representative
  agency providing services.

My question isn’t addressed here. What should I do?
Contact Life’s WORC with any additional questions regarding trusts.

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PRIVACY POLICY
Last updated March 3, 2020

Thank you for choosing to be part of our community at Life's WORC (“Company”, “we”, “us”, or “our”). We are committed to protecting your personal information and your right to privacy. If you have any questions or concerns about our policy, or our practices with regards to your personal information, please contact us at marketing@lifesworc.org.

When you visit our and use our services, you trust us with your personal information. We take your privacy very seriously. In this privacy policy, we seek to explain to you in the clearest way possible what information we collect, how we use it and what rights you have in relation to it. We hope you take some time to read through it carefully, as it is important. If there are any terms in this privacy policy that you do not agree with, please discontinue use of our and our services.

This privacy policy applies to all information collected through our and/or any related services, sales, marketing or events (we refer to them collectively in this privacy policy as the "Services").

Please read this privacy policy carefully as it will help you make informed decisions about sharing your personal information with us.

1. WHAT INFORMATION DO WE COLLECT?
Personal information you disclose to us
In Short: We collect personal information that you provide to us.

We collect personal information that you voluntarily provide to us when expressing an interest in obtaining information about us or our products and services, when participating in activities on the or otherwise contacting us.

The personal information that we collect depends on the context of your interactions with us and the , the choices you make and the products and features you use. The personal information we collect can include the following:

Publicly Available Personal Information. We collect first name, maiden name, last name, and nickname; phone numbers; email addresses; family member names and their related information; and other similar data.

All personal information that you provide to us must be true, complete and accurate, and you must notify us of any changes to such personal information.

Information collected from other sources
In Short: We may collect limited data from public databases, marketing partners, and other outside sources.
We may obtain information about your from other sources, such as public databases, joint marketing partners, as well as from other third parties. Examples of the information we receive from other sources include: social media profile information; marketing leads and search results and links, including paid listings (such as sponsored links). We will inform you about the source of information and the type of information and the type of information we have collected about you within a reasonable period after obtaining the personal data, but at the latest within one month.

2. HOW DO WE USE YOUR INFORMATION?
In Short: We process your information for purposes based on legitimate business interests, the fulfillment of our contract with you, compliance with our legal obligations, and/or your consent.
We use the information we collect or receive:
To send you marketing and promotional communications. We and/or our third party marketing partners may use the personal information you send to us for our marketing purposes, if this is in accordance with your marketing preferences. You can opt-out of our marketing emails at any time (see the "WHAT ARE YOUR PRIVACY RIGHTS" below).

To send administrative information to you. We may use your personal information to send you product, service and new feature information and/or information about changes to our terms, conditions, and policies.

3. WILL YOUR INFORMATION BE SHARED WITH ANYONE?
In Short: We only share information with your consent, to comply with laws, to provide you with services, to protect your rights, or to fulfill business obligations.

We may process or share data based on the following legal basis:
Consent: We may process your data if you have given us specific consent to use your personal information in a specific purpose.

Legitimate Interests: We may process your data when it is reasonably necessary to achieve our legitimate business interests.

Performance of a Contract: Where we have entered into a contract with you, we may process your personal information to fulfill the terms of our contract.

Legal Obligations: We may disclose your information where we are legally required to do so in order to comply with applicable law, governmental requests, a judicial proceeding, court order, or legal process, such as in response to a court order or a subpoena (including in response to public authorities to meet national security or law enforcement requirements).

Vital Interests: We may disclose your information where we believe it is necessary to investigate, prevent, or take action regarding potential violations of our policies, suspected fraud, situations involving potential threats to the safety of any person and illegal activities, or as evidence in litigation in which we are involved.
More specifically, we may need to process your data or share your personal information in the following situations:

Vendors, Consultants and Other Third-Party Service Providers. We may share your data with third party vendors, service providers, contractors or agents who perform services for us or on our behalf and require access to such information to do that work. Examples include: payment processing, data analysis, email delivery, hosting services, customer service and marketing efforts. We may allow selected third parties to use tracking technology on the , which will enable them to collect data about how you interact with the over time. This information may be used to, among other things, analyze and track data, determine the popularity of certain content and better understand online activity. Unless described in this Policy, we do not share, sell, rent or trade any of your information with third parties for their promotional purposes.

Business Transfers. We may share or transfer your information in connection with, or during negotiations of, any merger, sale of company assets, financing, or acquisition of all or a portion of our business to another company.

Third-Party Advertisers. We may use third-party advertising companies to serve ads when you visit the . These companies may use information about your visits to our Website(s) and other websites that are contained in web cookies and other tracking technologies in order to provide advertisements about goods and services of interest to you.

4. DO WE USE COOKIES AND OTHER TRACKING TECHNOLOGIES?
In Short: We may use cookies and other tracking technologies to collect and store your information.

We may use cookies and similar tracking technologies (like web beacons and pixels) to access or store information. Specific information about how we use such technologies and how you can refuse certain cookies is set out in our Cookie Policy.

5. HOW LONG DO WE KEEP YOUR INFORMATION?
In Short: We keep your information for as long as necessary to fulfill the purposes outlined in this privacy policy unless otherwise required by law.

We will only keep your personal information for as long as it is necessary for the purposes set out in this privacy policy, unless a longer retention period is required or permitted by law (such as tax, accounting or other legal requirements). No purpose in this policy will require us keeping your personal information for longer than 2 years.

When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize it, or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.

6. HOW DO WE KEEP YOUR INFORMATION SAFE?
In Short: We aim to protect your personal information through a system of organizational and technical security measures.

We have implemented appropriate technical and organizational security measures designed to protect the security of any personal information we process. However, please also remember that we cannot guarantee that the internet itself is 100% secure. Although we will do our best to protect your personal information, transmission of personal information to and from our is at your own risk. You should only access the services within a secure environment.

7. WHAT ARE YOUR PRIVACY RIGHTS?
In Short: You may review, change, or terminate your account at any time.

If you are resident in the European Economic Area and you believe we are unlawfully processing your personal information, you also have the right to complain to your local data protection supervisory authority. You can find their contact details here: http://ec.europa.eu/justice/data-protection/bodies/authorities/index_en.htm.

Cookies and similar technologies: Most Web browsers are set to accept cookies by default. If you prefer, you can usually choose to set your browser to remove cookies and to reject cookies. If you choose to remove cookies or reject cookies, this could affect certain features or services of our . To opt-out of interest-based advertising by advertisers on our visit http://www.aboutads.info/choices/.

8. CONTROLS FOR DO-NOT-TRACK FEATURES
Most web browsers and some mobile operating systems and mobile applications include a Do-Not-Track (“DNT”) feature or setting you can activate to signal your privacy preference not to have data about your online browsing activities monitored and collected. No uniform technology standard for recognizing and implementing DNT signals has been finalized. As such, we do not currently respond to DNT browser signals or any other mechanism that automatically communicates your choice not to be tracked online. If a standard for online tracking is adopted that we must follow in the future, we will inform you about that practice in a revised version of this privacy policy.

9. DO CALIFORNIA RESIDENTS HAVE SPECIFIC PRIVACY RIGHTS?
In Short: Yes, if you are a resident of California, you are granted specific rights regarding access to your personal information.

California Civil Code Section 1798.83, also known as the “Shine The Light” law, permits our users who are California residents to request and obtain from us, once a year and free of charge, information about categories of personal information (if any) we disclosed to third parties for direct marketing purposes and the names and addresses of all third parties with which we shared personal information in the immediately preceding calendar year. If you are a California resident and would like to make such a request, please submit your request in writing to us using the contact information provided below.

If you are under 18 years of age, reside in California, and have a registered account with the , you have the right to request removal of unwanted data that you publicly post on the . To request removal of such data, please contact us using the contact information provided below, and include the email address associated with your account and a statement that you reside in California. We will make sure the data is not publicly displayed on the , but please be aware that the data may not be completely or comprehensively removed from our systems.

10. DO WE MAKE UPDATES TO THIS POLICY?
In Short: Yes, we will update this policy as necessary to stay compliant with relevant laws.

We may update this privacy policy from time to time. The updated version will be indicated by an updated “Revised” date and the updated version will be effective as soon as it is accessible. If we make material changes to this privacy policy, we may notify you either by prominently posting a notice of such changes or by directly sending you a notification. We encourage you to review this privacy policy frequently to be informed of how we are protecting your information.

11. HOW CAN YOU CONTACT US ABOUT THIS POLICY?
If you have questions or comments about this policy, you may email us at marketing@lifesworc.org.
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