Child Special Needs Trusts - What You Can Expect to Structure and Fund Trusts

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About Child Special Needs Trusts and Estate Planning

Child Special Needs Trusts and estate planning are essential tools designed to protect and provide for individuals with disabilities or special needs. A Special Needs Trust (SNT), often referred to as a Supplemental Needs Trust, is a legal arrangement created to manage assets and funds for the benefit of an individual with special needs without jeopardizing their eligibility for government benefits such as Supplemental Security Income (SSI) and Medicaid. By placing assets into an SNT, families can provide supplemental support to a child with special needs while ensuring that the child remains eligible for essential government benefits that have strict income and asset limitations. The funds held in the trust can be used to supplement the individual's needs, including medical care, therapies, education, recreation, and other expenses not covered by public benefits. Types of Special Needs Trusts include Third-Party SNT: Established by family members using their assets to benefit a child with special needs; First-Party or Self-Settled SNT: Contains assets that belong to the individual with special needs, typically created to hold funds received from an inheritance, lawsuit settlement, or other sources without affecting eligibility for public benefits; Pooled Trust: Managed by a non-profit organization, allowing multiple beneficiaries to pool their resources for investment purposes while maintaining separate accounts.

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