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
Co-ownership of assets
Eligibility for needs-based public assistance
BENEFITS OF TRUSTS:
What is a special needs trust?
Special needs trusts allow individuals
with disabilities to
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.
The trustee must have sole discretion to make payments for supplemental needs.
The funds in trust pay for beneficiaries needs and comforts not covered by public benefit programs.
What costs may be covered?
Medical services not covered by Medicaid
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
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
Pooled trustspool together funds for a number of beneficiaries. Non-profit organizations act as trustees for pooled trusts.
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.
Speak with an attorney.