Special Needs Trust
Explore what a special needs trust is, how it works, and why it's crucial for protecting the future of individuals with disabilities.
How does a special needs trust help preserve government benefits for a beneficiary with disabilities?
A special needs trust is designed to supplement, not replace, the benefits provided by government programs such as Supplemental Security Income (SSI) and Medicaid. These programs have strict eligibility requirements concerning income and assets. By holding funds in a special needs trust, a beneficiary can receive financial support for services and items not covered by government benefits—like special therapies, equipment, or trips—without risking the loss of these vital public resources. The assets in the trust are managed by a trustee, ensuring that distributions comply with benefit eligibility rules. This structure is often essential for families aiming to enhance their loved one's quality of life while maintaining important government assistance.
