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SPECIAL NEEDS TRUSTS

Special Needs Trusts

A Special Needs Trust (SNT) is a legal arrangement to hold various assets for a person.  Because the funds do not belong to the individual, these assets do not jeopardize eligibility for critical government benefits, such as Supplemental Security Income (SSI) and Medicaid.

Special Needs Trusts are meant to supplement the governmental benefits that an individual with disabilities receives, and can hold all types of funds, including an inheritance. If properly structured, a SNT can also hold property such as a car or house, and other assets like life insurance proceeds.  If your child is receiving housing support or SSI, SNT funds are not meant to replace basic living expenses, but rather to augment all the supplemental needs.

Some examples of what an  SNT can cover include:

  • Additional insurance premiums
  • Additional therapies not covered by insurance
  • Off-label prescription medications
  • Dental hygiene (Dentists accepting Medicaid are hard to find!)
  • Home furnishings, appliances and electronics
  • Home renovations to provide better accessibility
  • Job training
  • Tuition for school or camps
  • Travel expenses
  • Phone and internet
  • Caretaker services
  • Medical equipment and services not provided by Medicaid
  • Private counseling
  • Any other items or services not otherwise covered by Medicaid

Should I Create a Special Needs Trust?

I can help you understand the benefits of an SNT and how it might fit into your plan, and explore specific eligibility requirements and qualifications that must be followed in order to safeguard other government benefits that your child might be eligible to receive.

Once you have a good understanding of Special Needs Trusts, you will need to decide who manages it in the future (after you) as well as the specific terms of the trust.  I can put you in touch with qualified attorneys who can set up the legal arrangements.

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