We’re here to help you discover all your options and make decisions with confidence.
FREE Estate Planning Webinar Sign Up Now!
Medicaid & Elder Law Attorneys | Orlando, FL | Family First Firm

Schedule Your Consultation Today!

(407) 574-8125
Family First Logo

What Is a Special Needs Trust?

Get The Legal Help You Need

What Is a Special Needs Trust?

March 10, 2022
Geoff Hoatson

Americans are living longer than they did in years past, including those with disabilities. Planning by parents can make all the difference in the life of a child with a disability, as well as that of his or her siblings who may be left with the responsibility for caretaking, on top of their own careers and caring for their own families.

Special needs trusts (also known as "supplemental needs trusts") are an important component of planning for a disabled child, even though the child may be an adult by the time the trust is created or funded. These trusts allow a beneficiary with a disability to receive inheritances, gifts, lawsuit settlements, or other funds and yet not lose her eligibility for certain government programs, such as Medicaid and Supplemental Security Income (SSI). The trusts are drafted so that the funds will not be considered to belong to the beneficiary in determining her eligibility for public benefits.

Special needs trusts are designed not to provide basic support, but instead to pay for comforts and luxuries that could not be paid for by public assistance funds. These trusts typically pay for things like education, recreation, counseling, and medical attention beyond the simple necessities of life.

There are three main types of special needs trusts: the first-party trust, the third-party trust, and the pooled trust. All three name the person with special needs as the beneficiary, but they differ in several significant ways, and each type of trust can be useful in its own way.

To learn more about Special needs trusts please call our office at (407) 574-8125 or email us at [email protected].

Copyright © 2023. Family First Firm - Medicaid & Elder Law Attorneys. All rights reserved.
The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting based on any information included in or accessible through this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country, or other appropriate licensing jurisdiction.
Family First Firm – Medicaid & Elder Law Attorneys
(407) 574-8125
https://familyfirstfirm.com
Share This Blog

Our Locations

Orlando Office

Family First Firm - Medicaid & Elder Law Attorneys

1901 W Colonial Dr,
Orlando, FL 32804

Get Direction

Altamonte Springs Office

Family First Firm - Medicaid & Elder Law Attorneys
By Appointment Only

715 Douglas Ave Suite# 40,
Altamonte Springs, FL 32714

Get Direction

Get free legal advice sent to your inbox

Name(Required)

The information you obtain at this site is not, nor is it intended to be, legal advice.
You should consult an attorney for advice regarding your individual situation. Contacting us does not create an attorney-client relationship

407-305-7616

Newsletter