What is a Special Needs Trust?
A Special Needs Trust (SNT) is a type of trust established to benefit a person with special needs, either mentally or physically. A SNT preserves eligibility for needs-based benefits such as SSI and Medicaid while providing funds for supplemental needs.
Special Needs Trusts can be used to pay for life-enhancing expenses that would not be covered by government benefits.
Benefits of a Special Needs Trust:
- Preserves eligibility for needs-based government benefits
- Ensures that the funds are used for the care of the person with the disability
- Protects the assets and beneficiary from predators and people who may take advantage
What Can the Trust Be Used For?
A Special Needs Trust can pay for many life-enhancing services and products for example:
- Funds for vacations and trips
- Athletic training
- Purchase of goods or services that add pleasure to quality of life: computers, videos, furniture and electronics
- Out-of-pocket medical expenses
- Supplemental education and tutoring