A
special needs trust, also referred to as a
supplemental needs trust, is designed to answer the single most pressing question for a parent of children with disabilities: “What will happen to my child after I'm gone?” Families are often anxious when considering the care their children will receive after the parents’ death. Understandably, many parents fear that, after their death, their child’s quality of life will suffer due to insufficient resources, the lack of effective advocacy, and the absence of the family home. Most parents, however, do not have the resources to provide quality lifetime care for their child without the assistance of government programs such as social security income (SSI) and Medicaid. While government benefit programs offer substantial services in terms of health care coverage, the available cash benefits are small. The goal, therefore, is to preserve the child’s eligibility for government benefits with additional funds available to supplement these benefits. The Supplemental Needs Trust (also, referred to as the Special Needs Trust) accomplishes this goal.
For more in-depth information, see this
Special Needs Trust FAQ. It is written by Attorney
Neal Winston, a Massachusetts estate planning attorney who is experienced in creating special needs trusts. Attorney Winston is the current president of the
Special Needs Alliance, a national, nonprofit organization composed of attorneys who advise and represent individuals and their families to create and administer special needs trusts.
Labels: attorney, estate planning, special needs trust