Funding a Supplemental Needs Trust: A NJ, NY & PA Perspective

(161 Ratings)

Produced on: November 04, 2015

Course Format On Demand Audio

Taught by

Categories:

Course Description

Time 63 minutes
Difficulty Intermediate

A supplemental needs trust (“SNT”) is an irrevocable trust created for an individual with a disability that provides him or her a pool of money to enrich their life while at the same time preserving their eligibility for “means-tested” benefits such as Medicaid and Supplemental Security Income.  

 

This is an intermediate program, presented by attorney George Gray, designed to provide a general overview of issues and strategies related to two of the most prevalent methods of funding an SNT. Mr. Gray explores the use of a personal injury award to fund an SNT; the use of a qualified retirement account or IRA to fund an SNT; and the use of a charitable trust to fund an SNT and, at the same time, benefit a charity.

 

This program will be most useful to attorneys who have a general knowledge of the creation, use and administration of an SNT but only limited familiarity with personal injury awards or the taxation of trusts. Mr. Gray is the author of a book entitled Special Needs Planning: A Simple Guide to Families in New York with a Loved One with a Disability, which was published by Graylake Publishing in October 2014.

 

Learning Objectives:

I.     Grasp basic issues present when using a personal injury award or settlement to fund an SNT

II.    Understand basic issues present when using a qualified retirement account or IRA to fund an SNT

III.  Know the strategy of naming an SNT as the beneficiary of a charitable remainder trust

Faculty

George Gray

Gray & Feldman LLP

George Gray is a partner in the law firm of Gray & Feldman LLP, where his practice concentrates in the areas of estate planning, and business and tax law. He has advised clients on the legal and tax aspects of choice of entity and the use of trusts and “pass-through” entities for estate planning purposes. Through his long association with the Norman Howard School Foundation and the Learning Disabilities Association in Rochester, New York, Mr. Gray has develpoed an expertise in advising families of persons with a disability on the establishment and operation of Special Needs Trusts. Mr. Gray has made presentations on a variety of business, tax and estate planning topics throughout western and central New York State. He is a member of the Monroe County and the New York State bar associations and is active in the Tax and Trust and Estate sections of those associations. Mr. Gray is a graduate of Hamilton College and Albany Law School of Union University.

Reviews

MC
Maria C.

Very informative

MM
Matthew M.

Thank you for the course. I am currently researching whether a SNT is necessary for a family member. Thank you.

AP
Albert P P.

Superb speaker with great knowledge of his subject matter.

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