Inland Counties Regional Center, Inc. is the Trustee of all the trusts in the Master Trust of California . Each trust established with the Master Trust of California is a separate individual trust. Each trust receives its own tax identification number and the assets held in that trust can only be used for the A Special Needs of the named beneficiary of that trust. Federal and State Fiduciary Tax Returns are filed annually and each trust is subject to taxes according to its earnings and expenses. The assets held in trust, in most cases, are pooled for investment purposes.

This trust program is called a A Master Trust because the same Trust Agreement, in most cases, is used for all the trusts. The Joinder Agreement, which is filled out by prospective Trustors, contains all the personalizing information for the trust such as the names of the Trustor and the Beneficiary, how distributions are to be made, and who will receive the balance of the trust's assets upon death of the Beneficiary.

In some cases the Master Trust of California will agree to act as Trustee of trusts drafted by others. The Trust Committee reviews the terms of these trusts carefully before agreeing or refusing to act as Trustee.

Since Inland Counties Regional Center, Inc. is the only regional center in California which has developed a trust program, it accepts trusts from throughout the state and is not limited to trust beneficiaries living in Riverside and San Bernardino counties.

The Master Trust is managed by the Master Trust of California Committee (Trust Committee). This committee is comprised of members of the Board of Trustees of Inland Counties Regional Center, Inc., professionals from the community who have expertise relevant to the trust program and who have an interest in developmental disabilities, parents of children with a developmental disability, and regional center staff. Members of the Trust Committee are familiar with the operations of regional centers, are knowledgeable about other public and private programs available to people with a developmental disability, and have experience working with people with a developmental disability and are aware of their special needs. Their expertise helps ensure the beneficiary will receive the maximum benefits allowed under law while preserving their trust funds for their special needs not covered by other programs.

The Trust Committee meets monthly to review and consider new trusts, to discuss and decide on disbursement requests, and to review the performance of the investment portfolio of the Master Trust of California Pooled Investment Fund and other assets held in trust.

When making trust disbursements, the Trust Committee may consider a variety of factors:

  • Appropriateness of the requested item for the Beneficiary
  • Are there other funding sources which could pay for this?
  • Any disbursement restrictions on the trust?
  • Current principal balance in the trust
  • Future trust income
  • Future needs of the Beneficiary
  • Current age and life expectancy of the Beneficiary
The Trust Committee sets, and periodically reviews, the Investment Policy for the Pooled Investment Fund. The Investment Policy of the Pooled Investment Fund is available upon request. The primary investment goal of the Master Trust of California is to minimize risk of loss of principal. Consequently, the rate of return on trust funds will be the prevailing rate available on investments with low risk.

The Master Trust is audited annually by an independent Certified Public Accountant.

Annual financial statements are provided each Trustor and Beneficiary. These financial statements include a report of the activity for the trust, a report on the Pooled Investment Fund, and a copy of the audited financial statements. Distributions upon death of the beneficiary are designated by the Trustor on the Joinder Agreement and may be subject to liens by Federal, State, or local government agencies in accordance with applicable laws.

Copyright 2009 - Master Trust of California |  Terms of Use |  Privacy Policy