Creation Fee Grant
The Wispact Board of Directors has approved an expanded Creation Fee Grant Program. This expanded program will provide grants to assist Wispact beneficiaries with reimbursement of a portion of the legal fees incurred through the creation of a Wispact Special Needs Trust. If eligible, the Beneficiary will also be reimbursed the $250 application fee. There is also a $500 (maximum) subsidy available for ALL FUNDED accounts, regardless of funding amount, for fees incurred by Beneficiary for assistance provided by a third-party professional to complete the
“Individual Spending Plan” document. Please see eligibility criteria and Creation Fee Grant Program procedure outlined below:
Eligibility: Any current Wispact sub-account beneficiary that creates and funds a trust account, per the amount limitations as outlined below, will be eligible for a Creation Fee Grant, as set forth in (2) below.
|Type of Trust Created
|Account funding amount eligible for Creation Fee Grant (funding amount calculated 30 days post-trust creation)
|$75,000 and less
|Funded Trust II (Third Party)
|$90,000 and less
If eligible per the criteria set above, the Grant issued will reimburse the Beneficiary’s sub-account:
– Legal fees incurred by the Beneficiary for the regular creation of a Wispact Trust sub-account up to $2,000.
– $250 Wispact application fee.
– Additional legal fees incurred due to extenuating circumstances, if any, during the creation of a Wispact Trust sub-account.
– Wispact does not provide the Creation Fee Grant for unfunded trusts
The legal fees portion of the Grant may also be requested as a direct payment to the creating attorney’s office.
Attorneys – please see Policy on Extenuating Circumstances
Grant Request Procedure. The Creation Fee Grant no longer must go directly to the Beneficiary’s Sub-Account in the form of a reimbursement; the Beneficiary or their creating attorney may request that the original attorney fee be paid from the Beneficiary’s Sub-Account or from the Creation Fee Grant as a direct payment, or the Beneficiary may pay for the attorney fee themselves and submit verification to Wispact with their Grant application that the fee was paid with their non-trust funds.
The preferred procedure for submission of a Wispact Creation Grant Application is as follows: The Beneficiary, their representative, or attorney should submit the Wispact Creation Fee Grant Application to Wispact’s Legal Department at the address provided below. Accompanying the Wispact Creation Grant Application should be the final legal invoice verifying the legal fees incurred in the creation of the Beneficiary’s Wispact Trust sub-account, as well as a corresponding cover letter detailing the Creation Grant request. More detailed instructions are provided in the Wispact Creation Grant Application form.
Upon receipt of the Creation Grant Application materials, Wispact logs and holds the request until the mandatory 30-day post funding requirement has passed prior to its review of the submitted Creation Grant Application. If the Beneficiary’s account remains eligible to receive the Creation Grant upon 30 days post initial funding of the Beneficiary’s Wispact account, and all requisite documentation verifying Beneficiary’s eligibility has been received by Wispact, a reimbursement for legal fees incurred in the creation of a Wispact Trust sub-account will be issued.
PLEASE NOTE – the submission of a Creation Grant Application indicated as a Beneficiary Sub-Account reimbursement is not the same as a Request for Distribution form for the payment of the attorney fees due from the Beneficiary’s sub-account. The Beneficiary, their legal representatives, or the attorney (with copies sent to, and approval obtained from, the Beneficiary) must submit a separate Request for Distribution form to the Beneficiary’s designated Beneficiary Specialist if they wish for their invoice to be paid from the Beneficiary’s sub-account. Please be sure to only request payment from one source.
Once the Application is completed please mail it, along with a copy of the final legal invoice for which you are requesting the Grant Reimbursement, to:
Attn: Legal Department
226 Corporate Drive
Madison WI 53714
Attorneys: if you have questions about the Wispact Creation Fee Grant, please contact Kristi L. Papez, Senior General Counsel, Phone: 608.268.6006 ext 206. Potential Wispact Beneficiaries: if you have questions about Wispact services and how to establish a trust, please contact James Giese, Director of Marketing and Outreach, Phone: 608.268.6006 ext 209.
Creation Fee Grant Applications can be completed and sent to Wispact by the Beneficiary, his or her legal representative, a Wispact trust advisor or a professional staff person from a qualified agency. Download the Creation Fee Grant Application here: