What is a self-settled trust?

A Self-settled Trust is a type of trust that is established by an individual with a disability to safeguard assets that are derived from the individual and for his/her private benefit. It is set up in accordance with the laws of Nevada and is certified by the court with the authority to manage the designated assets. This trust is typically established for individuals who receive means-tested benefits, such as Medicaid or Supplemental Security Income (SSI). The trust is designed to allow the individual to retain control over their assets while still meeting the requirements of the means-tested benefits. The self-settled trust can also be used to supplement the individual’s income and help pay for expenses that the means-tested benefits do not cover. It is important to note that the trust must be managed by a trustee who is approved by the court and who will be required to follow the Nevada Disability Planning Law. This trustee must have the discretion to make decisions for the benefit of the individual with a disability and in accordance with the individual’s circumstances.

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What is a self-settled trust?

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