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What is a Special Needs Trust (SNT)?

A special needs trust (SNT), also referred to as a supplemental needs trust, 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 Medicaid.  

Using a Trust to Protect Benefit Eligibility

A supplemental needs trust is a special type of trust which, under Federal statute and New York State law, allows 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 government benefits. 

Participating in public 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?

An 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 with any type of disability as defined by the Social Security Administration (SSA), including: 

FIRST Party Pooled Trusts - funded by the Beneficiary

THIRD Party Trust - funded by someone other than the Beneficiary

Do you have more questions? Visit our Frequently Asked Questions page to see what others have asked us!

 

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