Categories: Estate Tax Planning
Special Needs Trusts are legal arrangements designed to provide financial support for individuals with disabilities while preserving their eligibility for government assistance programs, such as Medicaid and Supplemental Security Income (SSI).
A Special Needs Trust allows a trustee to manage funds on behalf of the beneficiary, ensuring that the assets do not exceed certain limits that would disqualify them from receiving public benefits. For example, funds in the trust can be used for supplemental needs such as education, medical expenses not covered by public assistance, and recreational activities, without jeopardizing the individual’s eligibility for these critical government programs.
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