Document creation and assembly doesn’t have to be a burden. Preview a document created using ElderDocx® and see for yourself.
A Third-Party Supplemental Needs Trust (SNT) can be used when one has extra assets to put aside for a beneficiary's care. It allows the funds to be used for the beneficiary's care without jeopardizing the beneficiary's eligibility for government assistance, such as Medicaid or needs-based social security benefits.
The SNT can also contain many other advantageous provisions, such as those specifying what type of care is needed for the beneficiary, what types of living situations are acceptable, and provisions that afford tax advantages. Because the beneficiary's own assets are not funded into the trust, the Grantor can also specify what happens to the trust assets after the death of the beneficiary, to provide for others with any unused trust funds.