What is a special needs trust?

A special needs trust (SNT) is a type of trust that helps individuals with disabilities access financial resources without compromising their eligibility for public benefits such as Supplemental Security Income (SSI) and Medicaid. It can be used to pay for medical care, housing, education, recreational activities, and other necessary expenses. In New Hampshire, a Special Needs Trust can be established for a person with a disability who is a minor, or an adult with a mental or physical disability. The trust must be established by a family member, the disabled individual, or another appropriate individual or institution such as a court or governmental unit. The trust must be irrevocable and dedicated exclusively to the benefit of the special needs beneficiary. The individual with the disability is not considered the owner of the assets in the trust, and the assets will not be counted when determining eligibility for public benefits. The trust also allows the beneficiary to retain control over how their benefits are used and who receives them. This helps ensure that the beneficiary’s special needs are addressed while still maintaining their access to public benefits. A Special Needs Trust can also protect the assets of the disabled individual from creditors and provide a plan for the care of the individual after their death. Overall, Special Needs Trusts are an important tool in ensuring that individuals with disabilities can live healthy and productive lives.

Related FAQs

How do I terminate a trust?
What is a trust agreement?
What is a family trust?
What is a trust certification?
What is a living will?
What is a durable power of attorney for healthcare?
What is a power of attorney?
What is a grantor?
What is an irrevocable trust?
What is a pour-over will?

What is a special needs trust?

Related FAQs

Related Blog Posts