Special needs or supplemental needs trusts are designed to support disabled individuals as recognized by section 1614(a)(3) of the Social Security Act, allowing them to receive financial distributions from a trust while not impacting their ability to access and obtain public benefits available to them including, supplemental security income, social security disability insurance, and HUD/Section 8 subsidies, Medicare, and/or Medicaid.

Special needs trusts must be established before the beneficiary reaches age 65. Once established these are life-long trusts, meaning they exist for the lifetime of the special needs beneficiary. These important financial vehicles allow families to preserve and provide a financial benefit for expenses that aren’t covered by government benefits. Often these trusts can be used to cover caretakers, transportation and out-of-pocket medical expenses and other financial needs not covered by government funds.

Special needs and supplemental needs trusts are designed for families of all walks of life and financial means to be able to afford and provide a protected benefit for their loved ones with special needs. These types of trusts are also irrevocable, meaning they cannot be modified, amended, or terminated without express permission from the trust beneficiary.

Count on the Altruist^™ Difference When It Comes to Your Special Needs Trust

Altruist’s^™ trust managers are experts in the administration of special needs and supplemental needs trusts. We can help you and your family navigate the administration and management of a special needs trust. We regularly work with attorneys to help establish special needs trusts for clients and ensure they are set up to offer beneficiaries the financial security and peace of mind to live without worry.