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Special Needs Trusts

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For more information on Special Needs Trust, please contact Beth Horner, SVP, Trust Director

There are several types of special needs trusts that can be used to benefit a special needs individual, including a first-party (funded with assets of the special needs individual—for example, when they receive a settlement from a lawsuit as compensation for damages they received from an accident) and third-party (funded with the assets of others—for example, grandparents who want to leave a legacy to a special needs grandchild). We handle both of these types of trusts.

The assets placed in special needs trusts are not considered as belonging to the special needs individual; however, these trusts must include specific terms and language that the assets are to be used solely to supplement government benefits and not replace them. Our experienced, caring professionals work with your estate planning attorney to make sure that these crucial benefits are secure.

Our Services

  • Dedicated local Trust Officer assigned to each account

  • Coordination of services, including care management

  • Payment of bills and expenses

  • Needs and resource assessment

  • Timely preparation of Tax Returns

  • Response to the changing needs of the beneficiary

  • Annual budgeting for appropriate expenditures

  • Preparation of appropriate accountings

  • Experienced Investment Management customized for the beneficiary’s needs

Our Goal 

We have the ability to fully assist beneficiaries in the most sensitive of situations. As a result of our knowledge and training, we are familiar with government benefit programs, including Medicaid, Social Security Disability and Supplemental Security Income, as well as the requirements necessary for continuation of these benefits. Special Needs Trusts are often part of such benefit planning and require particular care in administration due to the benefit programs’ complex rules and regulations. Our trust professionals are experienced in these matters and are able to ensure that your loved one is protected while taking the burden and stress of the administrative details off of family members.

Disclosures

We do not practice law, draft legal documents or provide legal advice. Acting as an unbiased third party, we will interpret legal documents and apply relevant Trust law to follow your intent and properly and efficiently execute your trust and estate plan.

Not FDIC Insured Not Bank Guaranteed May Lose Value
Not a Bank Deposit Not Insured by Any Federal Government Agency