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     B) Special Needs Trust


 

The Special Needs Trust (SNT), sometimes referred to as a Discretionary Supplemental Care Trust, is designed for the grantor with a disabled child (or grandchild) who is currently receiving supplemental security income benefits. This kind of plan creates a discretionary trust fund, allocated with a pre-determined amount within the grantor’s own revocable (or irrevocable) trust, after his decease.

The grantor/parent often has a strong emotional need to do whatever he can to show love and affection toward such child, even after the grave. The parent wants to provide a source that would give extra meaning to the child’s life – which additional funds can help accomplish. The sole objective of this trust is to have a vehicle that would “supplement” the disabled child’s vested, public entitlement funds without disqualifying the lawful right to receive those funds. That goal can often be accomplished by this type of discretionary trust planning.


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