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Special Needs Trusts

Special needs trusts are established to provide for our loved ones with disabilities. These trusts are useful because they allow the beneficiary (the person the trust is set up for) to continue to receive benefits they may be collecting from the government.

There are many different types of special needs trusts, each with a unique set of factors and restrictions. While this makes the decision a bit more complex, it also offers some variety so that families can pick the option that works best for them. Below is a table displaying the different issues to consider when choosing the asset. These decisions can seem daunting, but we need to make sure we take care of those who are most important to us, and the experienced attorneys at Painter & Associates are here to help you.

Issues

STABLE Account

Discretionary Supplemental Needs Trust

Supplemental Services Trust

Special Needs Trust

Pooled Trust

Who can create the asset?

Person with disability, legal guardian, conservator, or agent

3rd party

Anyone

Person with disability, parent, grandparent, guardian, or Court

Person with disability, parent, grandparent, guardian, or Court

Who can use the asset?

Only persons disabled before age 26

Any person

Beneficiary qualifying for services through State Department of Disabilities or County Board of Developmental Disabilities or Department of Mental Health and Additional Services

Disabled individual under the age of 65

Any disabled individual

Who can fund the asset?

Anyone

3rd party

3rd Party

Anyone

Anyone

How many can a person have?

One

Unlimited

Unlimited

Unlimited

Unlimited

Who can control the asset?

Person with disability, legal guardian, conservator, or agent

Trustee who is not the person with a disability or their spouse must have complete discretion

Trustee who is not the person with a disability or their spouse

Trustee who is not the person with a disability or their spouse

Nonprofit organization must serve as the Trustee

How much can be paid into the asset per year?

$15,000 per year

Unlimited

Unlimited

Unlimited

Unlimited

Is there a cap on how much can be in the account?

Yes,
SSI Recipients - $100,000 limitation and amounts over are included as resources
Max lifetime limit of $462,000

No

The principal contribution must not exceed $246,000

No

No

What type of distributions can be made?

"Qualified Disability Expenses" which include basic living expenses, housing, transportation, education, assistive technology, employment training, legal fees, health and wellness, and financial management

Distributions for things not covered by Medicaid or SSI (cannot be used for medical care, comfort, maintenance, health, welfare, or general well-being); and at a complete discretion of the Trustee.

Distributions only for services not already received by qualifying programs and are above and beyond the basic necessities. Distributions may be made for travel, vacation, participation in hobbies, sports, exercise equipment, memberships, etc.

Distributions only for things that public benefits do not cover

Distributions for things not covered by Medicaid or SSI

How are funds disbursed upon death of person with disability

- Qualified Disability Expenses
- Funeral and Burial costs
- Medicaid reimbursement for amounts paid after account was opened
- Heirs

Funds may be preserved for another beneficiary and with proper drafting, funds will not have to be turned over to the State

Not less than 50% of the assets must be returned the State of Ohio to be used for the benefits of others who do not have such a trust

State reimbursed for 100% of medical assistance paid on behalf of beneficiary, if available

State reimbursed for 100% of medical assistance paid on behalf of beneficiary, if available

Read more...

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