Your Guide to Special Needs Trusts in Pennsylvania
What is a trust?
The funds in a trust are managed by a trustee for a beneficiary.
Trusts provide a measure of legal separation between individuals and assets.
Protection from liabilities
Avoiding conflicts of
interest
Co-ownership of assets
Privacy
Eligibility for needs-based public assistance
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BENEFITS OF TRUSTS:
What is a special needs trust?
Special needs trusts allow individuals
with disabilities to
protect access
to resources.
While allowing them to maintain eligibility for vital government benefits.
How does a special needs trust work?
In a special needs trust, the beneficiary is the person with a disability.
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The trustee must have sole discretion to make payments for supplemental needs.
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The funds in trust pay for beneficiaries needs and comforts not covered by public benefit programs.
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What costs may be covered?
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Medical services not covered by Medicaid
Caregiving
Travel
Education
Entertainment and other supplemental expenses
SPECIAL NEEDS TRUST CAN COVER:
Types of special needs trusts.
A third-party special needs trust is funded by someone other than the beneficiary, such as a parent or other family member.
Third-party special needs trusts
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A self-settled (also known as a first-party) special needs trust is created using the beneficiary’s own funds.
Self-settled special needs trusts
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Pooled trustspool together funds for a number of beneficiaries. Non-profit organizations act as trustees for pooled trusts.
Pooled trusts
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Talk to an attorney to find out whether a special needs trust is right for you.
We give families the peace of mind of knowing the best possible planning is in place.
(717) 540-4332
Speak with an attorney.