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Special Needs Trust
Created to provide long-term financial support for beneficiaries with disabilities without disqualifying them from essential government assistance programs like Medicaid or SSI.
Key Benefits
- Preserves eligibility for vital government benefits
- Provides funds for 'supplemental' care (education, recreation, specialized medical equipment)
- Ensures the beneficiary is cared for by a responsible trustee
- Protects the beneficiary from financial exploitation
Often Used For
Family Care PlanningLong-Term Support Strategies
Common Use Case
Crucial for parents of a child with a severe disability who want to leave an inheritance without jeopardizing the child's government healthcare and housing assistance.
Cost Expectation
Moderate setup cost, but requires a highly knowledgeable trustee to ensure funds are spent correctly.