Special Needs Trust

Special Needs Trust

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Special Needs Trust

Special Needs Trust definition:  A special needs trust is established to care for a disabled person.  The beneficiary cannot have any control over the assets or directly receive any trust income in order for the beneficiary to remain eligible for Medicaid or Supplemental Security Income. To qualify, the trust cannot pay for basic care items covered by Medicaid or Supplemental Security Income; it is supplemental.

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