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Community Trust
The Community Trust is a master trust, which means that the trust document already exists and does not have to be created by an attorney. The Community Trust is a pooled trust for individuals with disabilities and mental illness and PLAN/NJ is the trustee. The sub-accounts within the trust are accounted for separately but are pooled together for investment purposes, so it can be a good option for smaller trusts. PLAN/NJ charges the greater of the New Jersey statutory rate (currently 6% of income and 0.5% of the first $400,000 of principal plus .3% of principal beyond $400,000) or $1,600 per year.
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