What is a supplemental needs trust?

There are all sorts of trusts that people are able to set up in order to make sure their loved ones are able to receive their property once they pass away. For some people, unique situations require an even closer look at different types of trusts, such as those who have a loved one with a permanent mental or physical disability. For some people in this position, a supplemental needs trust, also known as a special needs trust, may be very beneficial. However, it is vital to look at the ins and outs of this type of trust beforehand.

According to the Human Resources Administration, a supplemental needs trust allows beneficiaries to retain their eligibility for government assistance programs such as Medicaid while also receiving funds from a trust as a beneficiary. For those who are interested in creating a trust that will benefit a loved one who is struggling with a disability and has special needs, a supplemental needs trust may be the ideal option. However, it is important for those thinking about setting up a trust to explore all options and carefully go over the details of each before making a final decision.

Setting up a trust is not only an excellent way to ensure that property stays in the family and loved ones are taken care of in the future, but it can also provide people with peace of mind. By taking a careful look at your options, you may find more confidence and a sense of relief in your decisions.

No Comments

Leave a comment
Comment Information
  • NYSBA
  • Brooklyn Bar Association 1872 Justice Integrity Honor Courtesy
  • National Italian American Bar Association Representing The Italian American Legal Community
  • Columbian Lawyers Association of Brooklyn
  • Columbian Lawyers Association of Rockland County
  • The Copyright Society of the USA
Email Us For a Response

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

111 John Street
Suite 800
New York, NY 10038

Phone: 212-791-9453
Fax: 212-962-6791
Map & Directions

600 3rd Avenue
Suite 1500
New York, NY 10016

Phone: 212-791-9453
Fax: 212-962-6791
Map & Directions

Phone : 212-791-9453 Fax : 212-962-6791