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These Terms of Service govern the professional trust administration services provided by Plaintiffs Trust Services.
Plaintiffs Trust Services provides professional trust administration for personal injury settlement trusts, special needs trusts, Medicare Set-Aside trusts, and related structures under Florida law. We do not provide legal advice, investment advice, or tax advice. Clients are advised to retain independent counsel.
Our services are available to individuals who have received or are expecting a personal injury settlement, and to their legal representatives. Engagement begins upon execution of a Trust Services Agreement and completion of KYC and AML onboarding. We reserve the right to decline any engagement at our sole discretion.
As professional trustee, we owe a fiduciary duty to each trust beneficiary. We will administer each trust in accordance with its terms, Florida Trust Code Chapter 736, and applicable federal law. We will act with reasonable care; maintain impartiality among beneficiaries; keep trust property separate from our own; maintain adequate records; and provide annual accountings.
Our annual administration fee is calculated as a percentage of advisor-managed assets within the trust. We do not charge on cash positions. Fees are subject to a maximum total cost cap as disclosed in your fee agreement. We earn no commissions, referral fees, or AUM-based compensation from any third parties.
Distribution requests are reviewed under the HEMS standard and the terms of your trust. Routine requests within pre-approved categories are processed same-day. Non-routine requests go to our distribution committee, which meets every Tuesday and Friday. We will not process a distribution that would jeopardize Medicare or Medicaid eligibility or violate applicable law.
Clients must promptly notify us of changes to contact information, benefit eligibility status, change in legal representation, or other material changes. Clients must complete all required verification documents and maintain the accuracy of information provided.
Either party may terminate upon 60 days written notice, subject to the Trust Services Agreement and Florida law. We will cooperate in transfer of assets and records to a successor trustee. Fees accrued through termination remain due.
Our liability for any claim is limited to fees paid in the preceding 12 months. We are not liable for market losses, investment decisions by independent advisors, third-party failures, or losses from a client's inaccurate information. Nothing limits liability for gross negligence or willful misconduct.
These Terms are governed by Florida law. Disputes not resolved informally will be submitted to binding arbitration in Miami-Dade County under AAA rules, except either party may seek injunctive relief from a court of competent jurisdiction.
We may modify these Terms from time to time. Material changes will be communicated to active clients with at least 30 days notice. Continued use of our services constitutes acceptance of modified terms.