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Resident Trust Accounts

The Home provides a banking service, called a Trust Account, as a convenience for the residents. The purpose of the Trust Account is to allow residents access to spending money without keeping a large amount of cash in the room and to simplify the bill-paying process (for example, any uninsured medical expenses, hairdresser, cable, telephone, pharmacy).  A Trust Account can be set up on Admission, or at any later time.

The resident or family member can decide to have some or all regular bills forwarded directly to Business Office for payment from the resident’s Trust Account. This service can be set up at the first meeting when the contract is signed, and can be changed at any time.

A quarterly statement is prepared for each resident with a trust account, detailing the transactions on the account.

Bills for residents who do not choose to open a trust account are sent directly either to the resident or to the substitute decision maker who looks after financial matters for the resident.