630-466-1600

160 S. Municipal Dr. Suite 100, Sugar Grove, IL 60554

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special needs trust, SNT, Illinois estate planning lawyersIf you are caring for a child with a disability, you have no doubt worried about how your child’s needs will be met following your death, particularly if your child receives Medicaid or SSI. These benefits have strict income eligibility guidelines, and a direct receipt of money would result in the loss of benefits until the inheritance was spent down below the income limits. But without your support, your child will have no money to pay for uncovered medical expenses, recreation or even basic living necessities. How can you protect your child’s eligibility for these benefits but at the same time ensure his life will be enjoyable? Ultimately, this can be achieved by leaving his share of your estate to a third-party special needs trust.

Requirements for Third-Party Supplemental Needs Trust

A trust is an agreement between the person who creates and funds the trust (the trustor) and the person who manages the trust (the trustee). The trustee is responsible for managing the trust’s assets, which can include a mix of property such as cash, real estate, or investment accounts, for the benefit of the trust beneficiary. A third-party special needs trust, also called a supplemental needs trust or SNT, is created by someone other than the Medicaid or SSI recipient to hold assets left to the recipient as part of an inheritance.

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630-466-1600

160 S. Municipal Dr. Suite 100, Sugar Grove, IL 60554

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