What is a trust?
Supplemental Needs Trust (SNT)
A special needs trust (SNT), also referred to as a supplemental needs trust or SNT, is a special type of irrevocable trust designed for people with disabilities. Under Federal statute and New York State law, SNTs allow a trustee such as NYSARC, Inc., to manage funds for the benefit of a person with a disability while preserving that person’s eligibility for means-tested government benefits.
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Using a Trust to Protect Benefit Eligibility
A special needs trust (SNT) is an essential financial planning tool for people with disabilities who need to preserve their eligibility for government benefit programs such as Supplemental Security Income (SSI) and/or Medicaid.
Government benefit programs can make dramatic improvements to a person’s quality of life, while the funds in a trust can pay for life-enhancing and supplemental needs that a person’s benefits do not provide.
Who Can Fund a Special Needs Trust?
A SNT can be established and funded by a person with a disability for their own benefit, or by a third party such as a family member or other loved one.
NYSARC Trust Services offers a variety of trust programs to meet the unique needs of people of all ages with any type of disability as defined by the Social Security Administration (SSA).