The Florida Pooled Trust offers clear benefit to all professionals, without regard to their specific profession. First and foremost, professionals now have an additional resource available for helping clients augment or increase the level of care they receive. In turn, adding value to the delivery of professional services ultimately translates into an additional revenue source for professionals.
The Trust is structured so that the client’s interests come first. This means that existing or anticipated professional relationships are not threatened or disrupted. For example, attorneys are often needed to provide independent legal counsel and to oversee the application process. While a law firm is involved in the administration of the Trust, it can not offer legal representation to potential beneficiaries because to do so would present a conflict of interest.
Also, professional guardians can avoid indigent cases by using the Trust to qualify wards for government assistance. When a ward becomes qualified, assets do not need to be spent down and trust funds are available for supplemental needs. Case managers and geriatric care managers can also benefit because trust funds can potentially be used for their services.
