First-party special needs trusts can be set up by adults who accumulate assets before the onset of a disability or receive assets after qualifying for Medicaid and SSI. The most common kind of trusts, however, are third-party trusts, which are typically set up by families to benefit children.

What is the difference between a special needs trust and a supplemental needs trust?

The term “special needs trust” refers to the purpose of the trust — to pay for the beneficiary’s unique or special needs. In short, the name is focused more on the beneficiary, while the name “supplemental needs trust” addresses the shortfalls of our public benefits programs.

How much does it cost to set up a supplemental needs trust?

Estimates suggest that you need $2,000 to $3,000 to create a special-needs trust, compared to the $300 to $600 average cost of creating a will. While a special-needs trust safeguards your child’s eligibility for government services and programs, a will does not.

What is a supplemental needs trust account?

A supplemental needs trust is a legislation-created device that allows chronically disabled people to benefit from income and asset-based government assistance programs even when they might have other sources of revenue. A supplemental needs trust can be established as a lifetime or testamentary trust.

How does the Supplemental Needs Trust ( SnT ) program work?

The Supplemental Needs Trust (SNT) Program monitors SNTs to ensure expenditures are made for the beneficiary (or disabled person) and to prevent the mismanagement or misuse of trust funds. The SNT is a Medicaid planning tool used to shelter a disabled person’s assets for:

When did New York Start Supplemental Needs Trusts?

In July, 1993, the New York State legislature enacted a statute to encourage third parties to establish Supplemental Needs Trust Funds for their disabled loved ones. EPTL § 7-1.12. This statute codified the principles announced in Matter of Escher, 52 N.Y. 2d 1006( 1981).

Where do I Mail my Supplemental Needs Trust?

For more information call 212-274‐6708 or email [email protected] If you need to submit an annual accounting, additional documentation or anything else, please mail it to: All Legal Papers must be served upon DSS/HRA at the following addresses:

Who is eligible for community supplemental pooled trust?

The Community Supplemental Pooled Trust is available to all residents of New York State who have been determined disabled by the State of New York and wish to be enrolled in Medicaid but has a monthly income or excessive resources prohibiting them from being eligible for the program.