Recent Law Soon to Allow Disabled Persons to Create Their Own Special Needs Trust What is a Special Needs Trust? Disabled persons who receive means-tested public benefits like Supplemental Security Income (SSI) and Medicaid must have no more than $2000 in countable assets in order to qualify (among other requirements). A Special Needs Trust is used to prevent disabled persons from being disqualified from receiving means-tested public benefits if they are to receive the benefits of trust assets or a personal injury award. Types of Special Needs Trusts There are three types of Special Needs Trusts - first-party special needs trust, third-party special needs trust, and pooled trust special needs trust. For this blog, we will only...
