Special Needs Trust Preparation Assistance
Special Needs Trust Preparation Assistance has no subcategories
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Programs that provide assistance for people who want to establish a trust for a chronically and severely disabled beneficiary which supplements government benefits such as SSI and Medicaid rather than supplanting them and which provides an income for the person with a disability within allowable limits. Special needs trusts are generally established using the assets of a third party but may, under certain specified conditions, be established with the disabled person's own funds, and are managed by a trustee on behalf of the individual with a disability. Trusts established with the disabled person's funds may have "pay back" requirements which enable the state to collect funds at the end of the trust as reimbursement for medical care expenditures. Special needs trusts may be revocable or irrevocable, and may be established and utilized on behalf of the person with a disability while the parents or others funding the trust are still living (an intervivos or living special needs trust) or following the death of the parents (a testamentary special needs trust).
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