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Special Needs Planning Tag

Estate Planning for Persons with Special Needs

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Certain situations require specific plans. A great planning tool that can be used for individuals, families and loved ones with a disability is a Special Needs Trust (SNT). Which, according to the Social Security Administration, disability is defined as “the inability to engage in any substantial gainful activity (SGA) by reason of any medically determinable physical or mental impairment(s) which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months.” The Special Needs Trust is arranged so the individual with the disability is...

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Understanding Special Needs Trusts

Do you know what a Special Needs Trust can do for you? This month, we’ll look at the many advantages a Special Needs Trust can offer you and your family. What is a Special Needs Trust? A Special Needs Trust, also known as a Supplemental Needs Trust, allows you to take care of your loved ones financially while ensuring he or she continues to receive government benefits. This type of trust contains set instructions that allow the Trustee to meet the needs of the beneficiary, but prohibits the Trustee from providing for those needs if they are already covered by Medicaid or other programs. A...

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