What is a Special Needs Trust (SNT)? An SNT is a type of trust designed for beneficiaries with disabilities and/or special needs who receive social security income (SSI) or Medicaid assistance. Through an SNT, the beneficiary can receive financial support for activities and items and remain eligible for financial assistance.
For example, an SNT can be used to cover the costs of an education program or tickets to the museum. These are examples of activities that would not overlap with SSI or Medicaid.
SNTs are worth looking into if you have a loved one who will need extra assistance after you have passed away. Setting up an SNT is a two-fold process. The first step is locating an estate planning attorney who can draft the trust. The second step is choosing a Trustee to oversee the SNT. King County has a variety of Trust Companies with SNT experience and using a skilled Trust Company can help avoid interference with the beneficiary's assistance. At Sekhon Law, we help our clients with finding a Trust Company that fits their unique needs. Contact us today to learn more about SNTs and your estate plan.
Disclaimer: The purpose of this post is to provide general information and a general understanding of the law, not to provide specific legal advice. By accessing this blog site you understand that there is no attorney-client relationship between you and Sekhon Law, PLLC. This post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.