SPECIAL NEEDS TRUSTS AND MEDI-CAL
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Special Needs Trusts
A Special Needs Trust (SNT) is a type of trust that is designed to provide a person with disabilities, assets which would enhance their quality of life, while enabling them to remain eligible for need-based public benefits, such as Supplemental Security Income (SSI) and Medi-Cal. The beneficiary of the SNT remains eligible for such need-based benefits, due to properly placing non-exempt assets in a Special Needs Trust. These trusts are specially drafted; and when necessary, are also approved by the Superior Court.
There are two types of SNTS, a first party SNT, which is funded with the assets of the person with the disability; and, a third party SNT, which is funded by a third person, typically a parent or grandparent of the disabled person. Many times, a SNT provision can be created in an estate plan; specially, when a child or other potential beneficiary is disabled and receiving need-based benefits such as SSI or Medi-Cal, so as to preserve that eligibility.
Sandra Clark and Margarita Vienneau are experienced in the drafting and formation of Special Need Trusts and can help you safeguard the future of a loved one. Additionally, our office is experienced in the court process involving such trusts.
If you have a situation that calls for such consideration, or have questions about the possibility of a SNT, or incorporating one into your estate plan, call the experts at Campbell, Clark & Vienneau today.