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.
A Phoenix Arizona Supplemental Needs Trust for Third Party — Disabled Beneficiary is a legal instrument created to provide financial support and preserve public benefits eligibility for individuals with disabilities in the Phoenix, Arizona area. This comprehensive trust arrangement is specifically designed to supplement government assistance programs while ensuring the beneficiary's needs are met beyond what these programs may cover. The Phoenix Arizona Supplemental Needs Trust for Third Party — Disabled Beneficiary can be categorized into two main types: 1. Third-Party Supplemental Needs Trust: This type of trust is established by a third party, usually a family member or a close friend, on behalf of the disabled beneficiary. The trust assets are managed by a trustee appointed by the creator of the trust, who has the sole authority to distribute the funds for the benefit of the disabled individual. With a third-party supplemental needs trust, the disabled beneficiary doesn't have direct control or access to the trust assets, which ensures the preservation of their eligibility for public benefits. 2. Pooled Supplemental Needs Trust: A pooled trust is created and managed by a non-profit organization. Unlike a third-party trust, where assets are held separately for each individual beneficiary, the pooled trust combines the assets of multiple beneficiaries for investment purposes. The funds are managed by professional trustees, and each beneficiary has an account within the trust. This type of trust is beneficial for those who may not have significant assets to create an individual trust or lack suitable individuals to act as trustees. The Phoenix Arizona Supplemental Needs Trust for Third Party — Disabled Beneficiary is designed to cover various expenses that enhance the quality of life for the beneficiary. These expenses can include medical and dental treatments not covered by Medicaid, assistive technology devices, private nursing care, transportation, education, recreational activities, and much more. The trust is specifically structured to avoid jeopardizing the beneficiary's eligibility for government benefits such as Medicaid, Supplemental Security Income (SSI), and other assistance programs. Establishing a Phoenix Arizona Supplemental Needs Trust for Third Party — Disabled Beneficiary involves careful consideration of legal requirements and an in-depth understanding of the unique needs of the disabled individual. It is crucial to consult with an experienced attorney specializing in special needs planning to ensure the trust is properly created and managed to fulfill the specific needs of the disabled beneficiary while maximizing the available public benefits.A Phoenix Arizona Supplemental Needs Trust for Third Party — Disabled Beneficiary is a legal instrument created to provide financial support and preserve public benefits eligibility for individuals with disabilities in the Phoenix, Arizona area. This comprehensive trust arrangement is specifically designed to supplement government assistance programs while ensuring the beneficiary's needs are met beyond what these programs may cover. The Phoenix Arizona Supplemental Needs Trust for Third Party — Disabled Beneficiary can be categorized into two main types: 1. Third-Party Supplemental Needs Trust: This type of trust is established by a third party, usually a family member or a close friend, on behalf of the disabled beneficiary. The trust assets are managed by a trustee appointed by the creator of the trust, who has the sole authority to distribute the funds for the benefit of the disabled individual. With a third-party supplemental needs trust, the disabled beneficiary doesn't have direct control or access to the trust assets, which ensures the preservation of their eligibility for public benefits. 2. Pooled Supplemental Needs Trust: A pooled trust is created and managed by a non-profit organization. Unlike a third-party trust, where assets are held separately for each individual beneficiary, the pooled trust combines the assets of multiple beneficiaries for investment purposes. The funds are managed by professional trustees, and each beneficiary has an account within the trust. This type of trust is beneficial for those who may not have significant assets to create an individual trust or lack suitable individuals to act as trustees. The Phoenix Arizona Supplemental Needs Trust for Third Party — Disabled Beneficiary is designed to cover various expenses that enhance the quality of life for the beneficiary. These expenses can include medical and dental treatments not covered by Medicaid, assistive technology devices, private nursing care, transportation, education, recreational activities, and much more. The trust is specifically structured to avoid jeopardizing the beneficiary's eligibility for government benefits such as Medicaid, Supplemental Security Income (SSI), and other assistance programs. Establishing a Phoenix Arizona Supplemental Needs Trust for Third Party — Disabled Beneficiary involves careful consideration of legal requirements and an in-depth understanding of the unique needs of the disabled individual. It is crucial to consult with an experienced attorney specializing in special needs planning to ensure the trust is properly created and managed to fulfill the specific needs of the disabled beneficiary while maximizing the available public 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.
