|A Special Needs Trust may be established to provide supplemental resources to a beneficiary with physical or mental impairments. This type of trust allows a donor, usually a parent, guardian, sibling or spouse, to set aside funds in trust which may be dedicated to the care of the special needs beneficiary.
For example, a Special Needs Trust may provide financial support to send a child to camp, take vacations, travel to visit relatives, buy sports equipment or to pay for other therapeutic needs which do not fall under day-to-day living or “maintenance” expenses.
Distributions from a Special Needs Trust will not jeopardize a beneficiary’s eligibility for needs-based government assistance such as Medicaid and Supplemental Security Income (SSI), if properly established and administered within a certain trust arrangement. The MassMutual Trust Company works with the care-givers, families and friends of special needs individuals to provide experienced Special Needs Trust administration.
Contact a MassMutual Trust Company Trust and Estate Consultant today to learn more about how a Special Needs Trust can meet your needs. You can also find out how this experienced group is available to consult with both yourself and your attorney during the trust planning process.