What is a special needs trust?

A special needs trust (SNT) is a way of providing for the financial security of a disabled person, who is unable to care for themselves. It is a legal trust set up to provide financial support for persons with disabilities while preserving government benefits such as Medicaid and Supplemental Security Income. A special needs trust is an important tool used in disability planning law in Rhode Island. It can be funded with money from parents, family members, friends, or other sources, and managed by a professional trustee. It can provide financial support for disabled individuals without impacting their eligibility for government benefits. The trust is used to pay for many expenses, such as medical and dental care, housing, transportation, and recreation that would otherwise be paid for through government benefits. The trust funds can be used to pay for items not covered by government benefits, such as education, counseling, and independent living or personal care services. The trust must be drafted carefully so that the assets owned by the trust are not considered “available” for the purposes of determining eligibly for government-funded benefits, such as Medicaid. Special needs trusts provide peace of mind for families and individuals with disabilities. They can help ensure that individuals with disabilities have the resources they need to lead a healthy and satisfying life.

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