Not-for–profit organizations serving individuals with special needs are augmenting services not provided for by government support through the use of “special needs pooled trusts.” As a family financial planning tool, families are painfully aware of the low thresholds of assets permitted to special-needs individuals before government benefits are forfeited. When individuals under the care and supervision of the organization join the trust, the transferred in assets become the property of the trust, and not the property of the individual. This is the crucial distinction for management of government benefits. During the lifetime of the individual, his or her share of the trust may be used to provide additional services identified in the individual’s treatment plan.
To learn more about specialty need pooled trusts, call us toll free at 800-837-2265 or send us an email.
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