Our Top Free Resource
This comprehensive estate planning kit helps you protect your family and establish your legacy. FREE!
Download our FREE Personal Estate Planning KitA Supplemental Needs Trust (also referred to as a Special Needs Trust) is a special type of trust that assists people with disabilities and is a very valuable estate planning tool. It can provide supplemental needs for a beneficiary throughout his or her lifetime while maintaining eligibility for public benefits and entitlement programs (such as Medicaid, SSI or SSD) or other sources of support. SNTs can provide funding for expenses not otherwise covered such as vacations, computers, specialized medical equipment or uncovered treatment, luxury items and gifts.
This is a WIN - WIN situation. It provides your loved one with a better quality of life and more opportunity during his or her lifetime, and is a simple and versatile way to ensure the Center can continue to provide quality and essential services to those who need them in the years to come.
Debbie is 73 and her adult daughter, who has special needs, now lives in one of the Center for Disability Services’ community residences. As Debbie is getting older, she is becoming increasingly fearful of that day when she is no longer able to care for her daughter, or even supervise the care that is given to her. At the same time, her daughter has thrived and grown more independent thanks to the wonderful residential and other programs and services that her daughter has received from the Center for Disability Services during her 36 years. Debbie would very much like to do her part to make sure that the Center has the capacity to extend this same level of care and compassion to other individuals with disabilities in the decades to come. Debbie can ensure her daughter’s future well-being and happiness while committing herself to the future of the Center for Disability Services by setting up a Supplemental Needs Trust for her daughter and naming the trust as the beneficiary to her will. This will allow Debbie’s daughter to access these funds after her mother is gone for those little necessities of life that used to be her mother’s responsibility. Further, by naming the Center for Disability Services as residual beneficiary of the trust, any funds that her daughter does not use during her lifetime will thereafter go to support much needed programs and services for other individuals with disabilities.
A Supplemental Needs Trust is a legally binding agreement through which money or other assets are transferred to a trustee and managed/held for the benefit of the disabled individual. It contains very specific restrictions as to distributions to ensure that they do not affect the beneficiary’s eligibility for entitlement programs. It is irrevocable and may be created and funded during your lifetime or upon your death pursuant to the terms and provisions of your will.
A Supplemental Needs Trust can contain or be funded with the following assets:
Debbie is 73 and her adult daughter, who has special needs, now lives in one of the Center for Disability Services’ community residences. As Debbie is getting older, she is becoming increasingly fearful of that day when she is no longer able to care for her daughter, or even supervise the care that is given to her. At the same time, her daughter has thrived and grown more independent thanks to the wonderful residential and other programs and services that her daughter has received from the Center for Disability Services during her 36 years. Debbie would very much like to do her part to make sure that the Center has the capacity to extend this same level of care and compassion to other individuals with disabilities in the decades to come. Debbie can insure her daughter’s future well-being and happiness while committing herself to the future of the Center for Disability Services by setting up a Supplemental Needs Trust for her daughter and naming the trust as the beneficiary to her will. This will allow Debbie’s daughter to access these funds after her mother is gone for those little necessities of life that used to be her mother’s responsibility. Further, by naming the Center for Disability Services as residual beneficiary of the trust, any funds that her daughter does not use during her lifetime will thereafter go to support much needed programs and services for other individuals with disabilities.
This comprehensive estate planning kit helps you protect your family and establish your legacy. FREE!
Download our FREE Personal Estate Planning KitThis comprehensive estate planning kit helps you protect your family and establish your legacy. FREE!
Download our FREE Personal Estate Planning Kit