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

Production Date: November 04, 2015 Practice Areas: Wills, Trusts, & Estates Estimated Length: 3780 minutes

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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

Maria C.
Philadelphia, PA

Very informative

Matthew M.
Waterford, NY

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

Albert P P.
Middletown, NY

Superb speaker with great knowledge of his subject matter.