A Supplemental Needs Trust, also known as a Special Needs Trust or Discretionary Trust, is a special type of trust that can provide supplemental services to your loved one without jeopardizing their eligibility for government benefits.
You may create a Supplemental Needs Trust to care for a disabled child, grandchild, parent or other individual regardless of the beneficiary’s age. The Supplemental Needs Trust may be funded now, to help with the beneficiary’s needs while you’re still alive, or you can bequest funds through your will or trust or by beneficiary designation that will flow into the Supplemental Needs Trust when you’re gone. The trust can be used to provide support for a special needs beneficiary beyond and in addition to the services that the government can offer without jeopardizing these benefits. Wilson Ratledge is experienced in assisting clients with the drafting and administration of Special Needs Trusts.