Currently Browsing:Supplemental Needs Trusts

Support the Special Needs Trust Fairness Act, 2015

By Saundra M. Gumerove, Esq. Last week the United States Senate unanimously approved the Special Needs Trust Fairness Act of 2015 (the Act). While this is a great step forward to giving disabled people receiving supplemental security income (SSI) and Medicaid the ability to create special needs trusts themselves, it is imperative that everyone contact

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What is a Special Needs Trust?

By Saundra M. Gumerove, Esq. A Supplemental Needs Trust or Special Needs Trust is designed to hold assets for an individual who receives government benefits such as Supplemental Security Income or Medicaid. Typically, in order to qualify for these government benefits, you must qualify and have limited assets and income. A Supplemental Needs Trust or

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What are the Types of Supplement Needs Trusts?

By Saundra M. Gumerove, Esq. There are two types of supplemental needs trusts: A Third Party Supplemental Needs Trust can be created by anyone except the individual with disabilities. The funds deposited into the trust come from someone other than the individual with disabilities.  The grantor or creator of this type of trust can designate who receives

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