Definitions for "Special Needs Trust"
A trust than can hold cash, personal property, or real property, or can be the beneficiary of life insurance proceeds. Simply stated, other peopleÕs money or property that they chose to contribute or leave to the child with disabilities.
allows a trustee to hold property for the benefit of a person with disabilities. A special needs trust provides for the needs of a disabled person without disqualifying him or her from benefits received from government programs such as Social Security Income (SSI) and Medicaid
A special kind of spendthrift trust designed to provide benefits to an elderly or disabled beneficiary while preventing the loss of government benefits received by that beneficiary.
a means to provide financial protection