Third Party Guardian Special Needs Trusts

A third-party special needs trust is for parents, grandparents, family members and friends who want to provide for a person with special needs without disqualifying or interrupting public benefits. We hold, protect and administer “inherited” money for the individual with a disability in a professional, caring and cost-effective manner.

A Special Needs Trust (SNT) is a special type of trust that enables an individual with a disability (the beneficiary) to benefit from the assets held in the trust, but those assets are not “counted” for the purposes of determining if that beneficiary is eligible for governmental benefits such as Medicaid or Supplemental Security Income (SSI).  Often times parents or grandparents think that they have to disinherit a family member with special needs so they won’t lose benefits- this is not necessarily the case. Talk with your estate planning/elder law attorney for the options you may have.

Why Choose the Pooled Third-Party Guardian Special Needs Trust?

• Competitive all-inclusive fees
• Co-Trustees are experienced, Practing Board Certified Elder Law Attorneys
• No minimum to open a sub-account
• Prompt response to distribution requests
• Bilingual Staff
• Professional and courteous service

What language do I need for my Will or Trust to fund an account with the Third-Party Pooled Guardian Special Needs Trust?

Here is sample language your attorney can use to draft provisions to fund a Third-Party Pooled Guardian Special Needs Trust sub-account for your loved one, using your Will or Trust.

“I give and bequeath (the sum of $___________OR ____%) of my estate to the Trustees of The Guardian Special Needs Trust dated May 27, 2015 (“the Trust”), as Trustees for the benefit of________________________, the beneficiary of this share.

Said funds to be held in Trust for the uses and purposes and upon the terms contained in the Trust, and further subject to the following terms and conditions. (Attorneys may wish to add specific clauses with respect to their client’s wishes) 

Upon the death of the said beneficiary, the principal and income then remaining, after the application of Sections 6.1 and 6.2 of the Trust, shall be paid as follows:

_______________________________________________________________________________”

Third-Party Pooled Special Needs Trust Membership Requirements:

• The funds deposited into the trust must belong to someone other than the beneficiary.
• Only cash can be deposited – no unique assets.
• The Joinder Agreement should be signed by the Grantor which must be someone other than the beneficiary.
• The Joinder should designate remainder or residual beneficiaries to receive remaining funds on the death of the primary beneficiary.

Fees:

View the Pooled Third-Party SNT Fee Schedule