Kinds of funds
The Special Care Trust: A safety net for the future

If you are a senior living alone without family support or the parents of a mentally ill adult child, the future can be a little uncertain. Dealing with illness, handling important financial and life-altering decisions are major concerns. Having – and managing- the funds to ensure quality of life is the bottom line.

The Special Care Trust helps address those concerns before they arise and makes sure the funds are there should you become incapacitated or can no longer care directly for your loved one.

For a senior living alone, issues such as appointing a mandatory, homecare, medical decisions and religious concerns are addressed. The JCF will work with Cummings Jewish Centre for Seniors, who will oversee your care and well-being while the Foundation manages the financial assets.

For parents of an adult child living with mental illness, the JCF will work with Jewish Family Services to see to your child’s care and financial management after your lifetime.

How it works

  1. A trust is created at the JCF during your lifetime (for the elderly) or (in the case of a mentally ill child), via the parents’ Wills.

  2. A contractual arrangement with a social service agency such as Cummings Jewish Centre for Seniors or Jewish Family Services will be entered into to ensure you or your loved one is looked after.

  3. The JCF invests the funds and uses the trust fund (both income and capital) to take care of your needs, ensuring that the funds are prudently managed and allocated.

 

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