What is a Special Needs Trust?

A Special Needs Trust (SNT) is an important part of disability planning law in North Carolina. It is a type of trust that provides financial support for individuals with disabilities while allowing them to maintain eligibility for certain public benefits. A SNT can be established with the help of a lawyer and can be funded with a variety of assets including cash, property, real estate, and more. The purpose of a SNT is to supplement, but not replace, the existing benefits available to the beneficiary. This ensures that their eligibility for public benefits will not be affected if they have additional assets. The trust is managed by a trustee, who has the responsibility of managing the trust assets and making sure that they are used for the benefit of the beneficiary. A SNT can be used to pay for a variety of expenses, such as medical care, education, transportation, and recreation. It can also be used to pay for certain special needs expenses that are not covered by public benefits programs. The main advantage of a SNT is that it can provide financial security and peace of mind for individuals with disabilities and their families. By providing a means to supplement the existing benefits, a SNT can ensure that the beneficiary has access to the care and services they need to lead a healthy, productive life.

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What is a Special Needs Trust?

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