What is a Special Needs Trust?

A Special Needs Trust is a fund set up to provide additional funds for an individual with a disability. When drafted and administered properly, a Special Needs Trust will allow the beneficiary to benefit from the trust while retaining eligibility for public benefits and maintaining the current amount of benefits being received. A Special Needs Trust may be created using assets of the beneficiary (the person with the disability) or funds from a family member. One does not have to be wealthy to create or have a Special Needs Trust.

Special Needs Trusts are designed to set aside funds for personal needs, and do not affect government benefits that are critical to individuals with disabilities, such as:

» Supplemental Security Income (SSI)

» Medicaid

» Section 8 Housing

» Food Stamps