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Special Needs Trust


Estate Planning with Special Needs

A Special Needs Trust (SNT) is part of estate planning for people with a disability. It is a trust provides a means for people with a disability to have a higher quality of life. Sheri Tucker’s experience and advocacy helps families and individuals navigate the different types of special needs trust that is needed or required. There is a difference between a supplemental needs trust set up by a person for him or herself versus one set up by a family member. Below explains the different types of special needs trusts in estate planning.

First-Party Special Needs Trust

  • First-Party Trust: Special Needs Trust that is a First-Party trust helps people who qualify for SSI keep their eligibility for government benefits. You may know this type of trust as a Self-Settled Trust. It is an irrevocable trust that is Medicaid compliant. The person with the disability must be under 65. People who expect to receive an inheritance or a personal injury settlement need to consider a First-Party Trust. A person can lose benefits without setting up a First-Party Trust. Sheri Tucker will work with you to set up the trust to help you keep your eligibility and helps find the right trustee to manage the trust funds.
  • Pooled Trusts: Pooled Trusts are a First-Party Trust. A person may receive an inheritance or a personal injury settlement, but it is a small amount.  Still, the money resource is over the amount allowed for SSI eligibility.  The resources may need to be “pooled” with other trusts and a state approved entity manages the funds in the pooled trust.

Third-Party Trust

Third-Party Trust: Third-Party Special Needs Trust is set up by a parent or grandparent for a family member with a disability. The purpose of a third–party trust is to provide a quality of life. The third-party funds the trust with diversified assets, including real estate. A child or adult with a disability benefits from distributions for a variety of living expenses.

For more information, read the blog at tuckerlegal-llc.com/special-needs-trusts-simplified/  Tucker Legal Services, compiled some answers to common questions. For more estate planning information and needs in Elder Law see Practice Areas 

Trust Consultation

The failure of proper planning may have lasting negative consequences. Tucker Legal Services is a law firm with experience to help you with your Special Needs Trust. Sheri Tucker works with family members to create Third-Party Special Needs Trust and helps find the right trustee to manage the trust funds. Book a complimentary consultation for your special needs trust planning with Sheri Tucker