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A special needs trust is a legal way to help provide for a person with a disability without disqualifying them for governmental benefits. One of the main financial risks of having a disability is ...
A special needs trust, also known in some jurisdictions as a supplemental needs trust, is a specialized trust that allows the disabled beneficiary to enjoy the use of property that is held in the trust for his or her benefit, while at the same time allowing the beneficiary to receive essential needs-based government benefits.
Ultimately, a first-party special needs trust can protect a beneficiary’s financial wellbeing. It ensures that they have access to quality care while still receiving government benefits.
Supplemental needs trust is a US-specific term for a type of special needs trust (an internationally recognized term). [1] Supplemental needs trusts are compliant with provisions of US state and federal law and are designed to provide benefits to, and protect the assets of, individuals with physical, psychiatric, or intellectual disabilities, and still allow such persons to be qualified for ...
Special needs trusts typically work in a similar way, with the money remaining in the trust after the beneficiary’s death going to pay back Medicaid services provided after the establishment of ...
Larry is the beneficiary of an Adult Supplemental Needs Trust, which was sponsored by the Bedford-Barrow-Commerce (BBC) Block Association through the UJA-Federation Community Trust for Disabled Adults. The BBC's sponsorship of Larry marked the first time a group outside of a beneficiary's family established an Adult Supplemental Needs Trust. [1]
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