special needs trust

Definition of "special needs trust"
  1. A type of trust set up for an SSI recipient that manages property or assets for their benefit, doesn't affect their SSI or Medicaid eligibility, protects the trust assets from creditors, and may be subject to extra rules if it's funded with the beneficiary's property
How to use "special needs trust" in a sentence
  1. The lawyer suggested setting up a special needs trust to ensure the child's future financial security.
  2. The parents of a disabled child can create a special needs trust to preserve the child's eligibility for public assistance.
  3. After receiving a substantial inheritance, she established a special needs trust to avoid losing her Medicaid benefits.

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