A special needs trust (SNT) is a legal document that allows a person with a disability to access funds without losing their eligibility for government benefits. This type of trust provides a way for individuals with special needs to maintain their financial independence while ensuring they have access to the care they need.
The benefits of a special needs trust are numerous. It helps protect assets from creditors and Medicaid and allows individuals to have access to funds for medical care and other necessities while still being eligible for government benefits. Special Needs Trusts also protects assets from creditors and allows the beneficiary to maintain control over how the funds are used.
Finally, they can help ensure that the beneficiary’s financial future is secure. With the trust, the beneficiary will be able to access resources that are not available through traditional means. This can help the beneficiary to achieve their goals and maintain financial independence for years to come.
A special needs trust is a powerful tool that can help people with disabilities to maintain their financial independence and security. By providing access to funds for medical care and other necessities while still protecting assets from creditors and Medicaid, it can be an invaluable asset for those in need of financial support.
