September 12, 2023

Trust Companies vs. Individual Trustees: Which Is Right for Your Special Needs Trust? Discussion with Dan Ehrmentraut of Capital First Trust (Ep. 30)

39 minutes

Supplemental Needs Trust is an often-underrated game-changer, paramount for enhancing the quality of life for individuals with special needs.

In this episode, Jim McGovern talks with Dan Ehrmentraut, Senior Vice President of Business Development at Capital First Trust, about the ins and outs of Supplemental Needs Trusts. Together, they dive into the world of trust management, debunking common misconceptions, and shedding light on how these tools can protect assets and qualify individuals for essential government benefits.

Throughout this episode, Jim and Dan discuss:

The definition of Supplemental Needs Trusts, their key benefits, and who can benefit from them

How a trust can qualify an individual for government benefits while protecting other assets

The crucial role of estate planning in preserving the beneficiary’s access to resources and eligibility for benefits

The reluctance of many corporate trustees to administer special needs trusts, and how Capital First Trust fills this gap

And more!

Resources:

Supporting Children With Special Needs With Mike Magulick (Ep.6)

Financial Advice For Parents of Children with Special Needs with Judy Herron, CPA (Ep.7)

Capital First Administration Guide

529A ABLE Account

Connect with Dan Ehrmentraut:

LinkedIn: Dan Ehrmentraut

LinkedIn: Capital First Trust Company

Capital First Trust Company

Connect with McGovern Wealth Group:

[email protected]

Schedule A Meeting

McGovern Wealth Group

LinkedIn: Jim McGovern

Facebook: Jim McGovern

About our guest:

Dan Ehrmentraut is a seasoned expert in trust management with an illustrious career in both law and finance. Holding a J.D. from the University of New York at Buffalo and admitted to the New York Bar in 1984, Dan carries a wealth of experience and knowledge. Over two decades, Dan worked his magic in traditional bank trust departments, navigating roles as Trust Officer, Regional Trust Manager, Supervisor of Trust Tax and IRA, Sales Manager, and Department Head. His journey took him further to the doors of several large financial service companies, playing significant roles in business development.

In 2013, Dan joined Capital First Trust Company, expanding its directed trustee presence across various financial and legal landscapes. His vast experience and knack for details have led him to successfully work with numerous financial advisors on complex estate plans, integrating the benefits of a directed trust structure for wealthy clients.

Please note that the information on this podcast are for reference only. Although accurate when originally released, they may now contain out-of-date information. They remain solely for historical purposes and are not considered current guidance. Always consult a professional regarding your individual situation.

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