This form is a trust used to provide supplemental support for a disabled beneficiary without loss of government benefits. It may be revocable or irrevocable, as the funds are contributed by a third party, and not the beneficiary. The Omnibus Budget Reconciliation Act of 1993 established the supplemental needs trusts.
Collin Texas Supplemental Needs Trust for Third Party — Disabled Beneficiary is a legal arrangement designed to provide financial support and assistance to individuals with disabilities in Collin County, Texas. It is established by a third party, such as a family member or friend, to support and enhance the quality of life for the disabled beneficiary. This type of trust is specifically structured to avoid jeopardizing the disabled individual's eligibility for government benefits, such as Medicaid or Supplemental Security Income (SSI). By setting up a Collin Texas Supplemental Needs Trust, the third party can provide additional financial resources to supplement the beneficiary's needs without interfering with their eligibility for crucial assistance programs. There are two main types of Collin Texas Supplemental Needs Trust for Third Party — Disabled Beneficiary: 1. Self-settled trust: This type of trust is often used when a disabled individual has some form of assets, such as a personal injury settlement, inheritance, or any other source of funds. The self-settled trust allows them to preserve these assets while still qualifying for government benefits. However, this article mainly focuses on the third-party trust. 2. Third-party trust: The third-party trust is established and funded by someone other than the beneficiary themselves. Parents, grandparents, siblings, or close friends typically create this trust to ensure that the disabled individual has access to additional resources and services not covered by governmental assistance programs. These trusts can be funded during the lifetime of the granter or through a provision in their will. The Collin Texas Supplemental Needs Trust can cover various expenses and services, including but not limited to: — Medical and dental expenses not covered by insurance — Rehabilitation and therapy cost— - Personal care attendants and aides — Educational and vocationatrainingin— - Home modifications to improve accessibility — Transportation and vehicle cost— - Assistive technology and devices — Recreational activities and travel experiences By establishing a Collin Texas Supplemental Needs Trust for Third Party — Disabled Beneficiary, families can ensure that their loved ones with disabilities receive necessary support and enhanced quality of life. It allows them to use additional financial resources strategically without disturbing essential government benefits. These trusts should be created with the assistance of an experienced attorney familiar with Texas laws and regulations to ensure compliance and maximize the beneficiary's benefits.Collin Texas Supplemental Needs Trust for Third Party — Disabled Beneficiary is a legal arrangement designed to provide financial support and assistance to individuals with disabilities in Collin County, Texas. It is established by a third party, such as a family member or friend, to support and enhance the quality of life for the disabled beneficiary. This type of trust is specifically structured to avoid jeopardizing the disabled individual's eligibility for government benefits, such as Medicaid or Supplemental Security Income (SSI). By setting up a Collin Texas Supplemental Needs Trust, the third party can provide additional financial resources to supplement the beneficiary's needs without interfering with their eligibility for crucial assistance programs. There are two main types of Collin Texas Supplemental Needs Trust for Third Party — Disabled Beneficiary: 1. Self-settled trust: This type of trust is often used when a disabled individual has some form of assets, such as a personal injury settlement, inheritance, or any other source of funds. The self-settled trust allows them to preserve these assets while still qualifying for government benefits. However, this article mainly focuses on the third-party trust. 2. Third-party trust: The third-party trust is established and funded by someone other than the beneficiary themselves. Parents, grandparents, siblings, or close friends typically create this trust to ensure that the disabled individual has access to additional resources and services not covered by governmental assistance programs. These trusts can be funded during the lifetime of the granter or through a provision in their will. The Collin Texas Supplemental Needs Trust can cover various expenses and services, including but not limited to: — Medical and dental expenses not covered by insurance — Rehabilitation and therapy cost— - Personal care attendants and aides — Educational and vocationatrainingin— - Home modifications to improve accessibility — Transportation and vehicle cost— - Assistive technology and devices — Recreational activities and travel experiences By establishing a Collin Texas Supplemental Needs Trust for Third Party — Disabled Beneficiary, families can ensure that their loved ones with disabilities receive necessary support and enhanced quality of life. It allows them to use additional financial resources strategically without disturbing essential government benefits. These trusts should be created with the assistance of an experienced attorney familiar with Texas laws and regulations to ensure compliance and maximize the beneficiary's benefits.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
