What is a special needs trust?

A special needs trust is a type of trust established for a person with a disability. This type of trust provides a way to provide for the disabled person’s needs without affecting their eligibility for government benefit programs. These trusts are also known as “supplemental needs trusts” or “special needs trusts.” In Kansas, this type of trust is usually designed to supplement medical care and other services provided to someone with a disability. The funds from a special needs trust are used to pay for things like medical bills, adaptive equipment, specialized services, and even recreation and travel. Unlike other types of trusts, a special needs trust is designed to provide for the disabled person’s needs without reducing their eligibility for government benefits. The trust’s terms generally state that the trust assets and income are not to be used to supplement the disabled individual’s basic needs, such as food, clothing, and shelter, but rather to supplement the care and services that the individual already receives. A special needs trust can be created by the disabled individual’s parent, grandparent, guardian, court, or even the disabled individual. In Kansas, a special needs trust must be established through a court of law, or by using the services of a qualified attorney. It is important that a special needs trust be properly established so that the disabled individual remains eligible for their necessary government benefits.

Related FAQs

How do I terminate a trust?
What is a discretionary trust?
How do I name a beneficiary in a trust?
What are the benefits of estate planning?
What is a pour-over will?
What is a revocable living trust?
What is a living will?
What is the difference between a revocable and an irrevocable trust?
What is the tax treatment of trusts?
What is a revocable trust?

What is a special needs trust?

Related FAQs

Related Blog Posts