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Piloting technology-enabled care plan for family members with special needs

CHICAGO and HOLMDEL, N.J., April 21, 2021 /PRNewswire/ - BMO Harris Bank today announced its partnership with Hope Trust, a technology-based planning service and trust administration platform for clients with special needs and their families.

Hope Trust is the first digital life care and trust planning platform created for individuals with special needs. The platform enables users to develop a personalized special needs care plan that can be accessed and managed by family members, friends and care professionals. Hope Trust plans incorporate important legal, financial, government benefit and succession planning aspects and can be modified at any time to reflect the changing needs of the special needs individual.

"The Hope Trust platform was created to address the unique and ever-changing requirements of loved ones with special needs and offers the holistic planning solution that has been sought by many such families," said Daria Placitella, co-founder and CEO of Hope Trust. "Our partnership with BMO, and their willingness to provide our services to their clients at no cost, demonstrates their dedication to this often-overlooked community. We look forward to serving both their current and prospective clients."

This partnership marks BMO's latest step to continue to build and invest in technology to transform the banking experience, with customer experience as a top priority. BMO will sponsor 20 clients with one-year licenses of Hope Trust's platform as part of the pilot.

"As a corporate trustee, BMO looks for innovative solutions to better serve our clients," said Amy Griman, national head of trust & estates for BMO Wealth Management U.S. "Working with Hope Trust to create digital care plans for our clients with loved ones with special needs is one more way we're trying to Boldly Grow the Good in business and life."

On Thursday, May 6, BMO and Hope Trust will host a free webinar that will highlight important considerations when planning for the future of dependents with special needs and share Hope Trust's unique approach to making this planning straightforward and easy to execute. More information and registration details can be found here.

Last year, Hope Trust participated in BMO Harris Bank's and 1871's fintech industry program for women-founded startups, WMN•FINtech. More information can be found here.

Additionally, the startup was also named to Pepperdine University's Most Fundable Companies of 2020 list.

About Hope Trust
Hope Trust is a FinTech platform designed to plan and provide for the long term financial and daily needs of a challenged family member for the 32MM US families that have a member with special needs. The Hope Portal app walks users through the creation of a care plan, a document that holistically details the daily life of the loved one with challenges. Their daily schedule, medical, legal, financial, and psychological needs are all documented in an easy to read report that can be shared with family members or future caregivers. Through the app, the plan can be updated 24/7/365, so it is always up to date. After completing the care plan, the app also generates a custom third party supplemental needs trust, laying the groundwork for the family to plan for their loved one's financial future. The MYTO tool determines the trust funding goal using the beneficiary's budget and incorporating each client's government benefits, allowing a Financial Advisor to deliver a tailored solution. Hope Trust also offers a full suite of concierge services to help families with special needs planning: creating an IEP, finding doctors, group homes, rehab centers and more. Hope Trust can work with your trustee to ensure that services and support are provided throughout the beneficiary's lifetime and that trust assets are used to proactively enhance the beneficiary's life.

About BMO Harris Bank
BMO Harris Bank provides a broad range of personal banking products and solutions through more than 500 branches and fee-free access to over 40,000 ATMs across the United States. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the United States. For more information about BMO Harris Bank, visit the company fact sheet. Accounts are subject to approval. BMO Harris Bank N.A. Member FDIC. BMO Harris Bank is part of BMO Financial Group, a highly diversified financial services provider with total assets of CDN$973 billion as of Jan. 31, 2021. 

SOURCE BMO Harris Bank