What is a special needs trust?

A special needs trust is a type of trust recognized by the state of Washington that allows a person with a disability to maintain eligibility for government assistance while still having access to money. This type of trust provides an effective way to supplement government benefits without disqualifying a person from those benefits. A special needs trust is typically set up by a family member, such as a parent or grandparent, for the benefit of a disabled individual. The trust is established with a transfer of money or assets from the family member. The money in the trust is used to benefit the disabled individual, providing them with care and financial assistance. The trust may be used to cover medical and other expenses that provide for the disabled beneficiary’s health, welfare, and comfort. In Washington, special needs trusts are governed by the state’s disability planning laws. This allows for the trust to be created for the sole benefit of the disabled individual, and it prevents the trust assets from being counted as the beneficiary’s own resources when determining eligibility for government benefits. In addition, this type of trust can help provide financial security for the lifetime of a disabled person.

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