Special Need Trust

A Special Needs Trust (SNT) is a legal arrangement designed to provide financial support for individuals with disabilities without jeopardizing their eligibility for government assistance programs.

Benefits

Preserving Eligibility

SNTs allow individuals with disabilities to maintain eligibility for means-tested government benefits like Medicaid and Supplemental Security Income (SSI).

Supplementing Government Benefits

 The trust can provide supplemental financial support to enhance the quality of life for the individual, covering additional medical expenses, education, and recreational activities.

Professional Management

SNTs are typically managed by a trustee, ensuring responsible and knowledgeable handling of funds, relieving family members of financial management responsibilities.

Protection from Creditors

Assets within a Special Needs Trust are generally protected from the creditors of the individual with disabilities, providing an added layer of financial security.

Estate Planning

Including a Special Needs Trust in estate planning helps ensure a smooth transition of assets and care for individuals with disabilities after the grantor's passing.

Personalized Care

SNTs can be customized to address the specific needs and circumstances of the individual, ensuring that their unique requirements are met.

Long-term Financial Security

By establishing a Special Needs Trust, families can create a sustainable financial plan that supports the individual's well-being throughout their lifetime.

Family Harmony

SNTs can contribute to family harmony by clarifying how financial resources should be allocated and reducing potential conflicts among family members regarding the care of the individual with disabilities.

Tax Advantages

Depending on the structure of the trust, there may be potential tax advantages that can benefit both the individual with disabilities and the family.

Peace of Mind

Families gain peace of mind knowing that a well-structured Special Needs Trust is in place, providing for the ongoing care and support of their loved one with disabilities.