Options to Consider
- Minors or disabled adults receiving proceeds from a personal injury or wrongful death lawsuit
- Minors receiving an inheritance as a results of their parents’ untimely death
- Adults adjudicated as unable to handle their financial affairs
Special/Supplemental Needs Trusts (SNTs)
Sometimes a disabled individual needs to protect their public benefits, such as Medicaid. Establishing an SNT provides a ‘safe harbor’ for assets and are therefore not counted when determining eligibility for public benefits. Assets in the trusts are used to pay for special needs that government programs don’t cover.
There are two types of SNTs:
- First Party SNT (also referred to as Self-Settled or OBRA ’93) – may be established with a disabled individual’s own assets (typically proceeds from a lawsuit)
- Third Party SNT – created and funded with assets of a person other than the disabled individual
In addition, our team can help administer traditional trusts or help settle estates.