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Special Needs Trust

A SNT holds assets for a person with disabilities. The prime purposes of the Trust are to provide for the beneficiary's needs and to enhance the quality of the beneficiary's life without jeopardizing the beneficiary's eligibility for SSI, (Medicaid (Medical Assistance) and certain other public benefits.

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  • The Third Party SNT is the best method for providing instructions on leaving inheritance to a loved one with special needs.
  • Called the third party SNT because it is established with the assets of someone other than the loved one with special needs.
Most Families prefer the Third Party Trusts
  • The Third Party SNT allows for the distribution upon death to go to the grantor's wishes and there is no payback requirement
  • The Third Party SNT is revocable during the life of the grantor
Flowchart: Donor gives remainder interest in a home and retains the right to use the home for life.

Benefits of a Special Needs Trust

  • Receive a federal income tax deduction for the value of the remainder interest in your home or farm
  • Preserve your lifetime use and control of your home or farm
  • Create a Special Needs Trust based on more than one life. This will preserve the use of the property for you and a loved one, such as a spouse or dependent child

How a Special Needs Trust works

  1. You deed your home or farm to Bello Machre. The deed will include a provision that gives you the right to use your home or farm for the rest of your life and that of any other Special Needs Trust party named in the deed.
  2. You and Bello Machre sign a maintenance, insurance and taxes (MIT) agreement to explain that you will do your best to keep the property in good condition and that you will maintain property insurance and pay the property taxes.
  3. When the owners of the Special Needs Trust have passed away, your home or farm will belong to Bello Machre. We will use or sell the property to further our charitable work.

Contact us

To learn more about a Special Needs Trust, please contact us. We would be happy to assist you and answer your questions.

Additional Information

Special Needs Trusts Work for Spouses Too - The Special Needs Trust can last for your life or based on your life and that of another person, such as a spouse or loved one.

Mortgage Debt - It is possible for you to make a gift of your property even though there is a mortgage upon the residence.

Maintenance Issues - You will be responsible for the maintenance, insurance and taxes on the property, just as you were prior to creating the Special Needs Trust.

Special Needs Trusts Are Flexible - If, at some point in the future, you are no longer able to live independently in your home, we may be able to help you use your Special Needs Trust to create a lump sum cash payment (with a joint sale) or create an income stream (using the Special Needs Trust to fund a charitable remainder trust or charitable gift annuity).

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