Nursing Home Resident Trust Funds: Facts and Relevant Newshttps://www.horwitzlaw.com/wp-content/themes/osmosis/images/empty/thumbnail.jpg 150 150 Clifford Horwitz Clifford Horwitz https://secure.gravatar.com/avatar/889d7f53aa656ffde8899fceb98167be?s=96&d=wp_user_avatar&r=g
What is a Nursing Home Resident Trust Fund? – A Brief Overview
A nursing home “resident trust fund” is an optional account that consists of the resident’s money. This account is managed by the nursing home on behalf of the resident and is used for expenditures.
It is important to note that this trust account is optional and that money can still be managed seperatly from the nursing home and that an incoming resident is not required to set up a resident trust fund with a nursing home. If it is desired that the nursing home manages the money of the resident, it is imperative that all necessary information is carefully reviewed to ensure that the nursing home is correctly manging the money according to applicable federal laws and state laws.