Special Needs Trust

A special needs trust is an estate planning tool used to allow assets to be held in trust for the benefit of a physically or mentally challenged individual, or a person with a chronic or acquired illness.

A Special Needs Trust is a type of trust designed to provide for a disabled dependent after you're gone.

With a special needs trust you can set aside assets to care for a disabled loved one. If properly set up and managed, the person's government assistance benefits will not be jeopardized. With the proper care, you can maintain good relations with the rest of the family.

For children who may become beneficiary to a structured settlement, malpractice lawsuit or other third party settlement money, the use of a payment special needs trust may be necessary.

When caring for a disabled child, it is important to establish an SNT and then to know, well, how the federal and state guidelines may conflict with regard to distributions.