Special needs trusts (SNTs) allow you to ensure the financial security of a loved one who lives with special needs or a disability. SNTs are unique in that they provide financial assistance for a beneficiary without jeopardizing their eligibility for needs-based governmental programs.
Learn how your beneficiary may use the assets in an SNT.
How SNT Funds Can Be Allocated
The purpose of an SNT is to enhance the quality of life for those living with special needs after their main caretaker or provider passes away. SNTs provide these individuals with long-term security and support, and give you peace of mind knowing your relative is cared for after your passing.
There are several different types of SNTs, including the following:
First-party SNTs: This type of trust is funded by the person with special needs.
Third-party SNTs: This type of trust is funded by someone other than the person with special needs (typically, their caretaker or relative).
Pooled SNTs: This type of trust is managed by a non-profit organization. Each beneficiary has a separate account, and the funds in the accounts are pooled together for the purposes of trust management and investment.
SNT beneficiaries may use the trust’s funds to facilitate their ongoing medical treatment and rehabilitative care. This is particularly beneficial for those who require special therapies or have specific dietary needs.
Interested in a Special Needs Trust? We’re Here to Help
If you’re interested in establishing a special needs trust for a loved one, we’re here to help. At Legacy Enhancement, we’re capable of handling trusts of all sizes and maintaining your relative’s eligibility for needs-based governmental programs.
Contact us online or by phone today at (888) 988-5503 to learn how we may assist you!