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.
Broward Florida Supplemental Needs Trust for Third Party — Disabled Beneficiary is a legal arrangement designed to secure the financial future of a disabled individual in Broward County, Florida. This type of trust provides additional support and benefits to individuals who are eligible for government assistance programs such as Medicaid or Supplemental Security Income (SSI). The purpose of the Broward Florida Supplemental Needs Trust is to allow disabled individuals to maintain their eligibility for public assistance while still being able to receive additional funds from third-party sources. These funds can be used to enhance the quality of life for the disabled beneficiary, covering expenses beyond what government programs provide. The Broward Florida Supplemental Needs Trust for Third Party — Disabled Beneficiary is managed by a trustee, who can be a family member, close friend, or a professional fiduciary. The trustee's role is to diligently administer the trust's assets and disburse funds according to the beneficiary's needs and according to the specific guidelines set forth in the trust agreement. Different types of Broward Florida Supplemental Needs Trusts for Third Party — Disabled Beneficiary include: 1. General Third-Party Supplemental Needs Trust: This trust is typically created by a family member or loved one of the disabled beneficiary using their own funds. It allows the disabled individual to inherit or receive funds from the trust without jeopardizing their eligibility for public benefits. 2. Testamentary Third-Party Supplemental Needs Trust: This trust is established as part of a will and goes into effect after the death of the granter. It allows the disabled beneficiary to receive assets or funds from the deceased while maintaining eligibility for public benefits. 3. Pooled Third-Party Supplemental Needs Trust: In some cases, disabled individuals may not have a family member or loved one who can create or oversee a trust on their behalf. In such situations, a pooled trust operated by a nonprofit organization can be a viable option. These trusts combine funds from multiple beneficiaries and are managed and administered by the organization, ensuring the beneficiary's needs are met while complying with government assistance program requirements. By utilizing a Broward Florida Supplemental Needs Trust for Third Party — Disabled Beneficiary, individuals with disabilities can receive financial support from third-party sources while still accessing crucial public benefits. It offers peace of mind to both the disabled individual and their loved ones, knowing that their financial well-being is protected and their quality of life enhanced.Broward Florida Supplemental Needs Trust for Third Party — Disabled Beneficiary is a legal arrangement designed to secure the financial future of a disabled individual in Broward County, Florida. This type of trust provides additional support and benefits to individuals who are eligible for government assistance programs such as Medicaid or Supplemental Security Income (SSI). The purpose of the Broward Florida Supplemental Needs Trust is to allow disabled individuals to maintain their eligibility for public assistance while still being able to receive additional funds from third-party sources. These funds can be used to enhance the quality of life for the disabled beneficiary, covering expenses beyond what government programs provide. The Broward Florida Supplemental Needs Trust for Third Party — Disabled Beneficiary is managed by a trustee, who can be a family member, close friend, or a professional fiduciary. The trustee's role is to diligently administer the trust's assets and disburse funds according to the beneficiary's needs and according to the specific guidelines set forth in the trust agreement. Different types of Broward Florida Supplemental Needs Trusts for Third Party — Disabled Beneficiary include: 1. General Third-Party Supplemental Needs Trust: This trust is typically created by a family member or loved one of the disabled beneficiary using their own funds. It allows the disabled individual to inherit or receive funds from the trust without jeopardizing their eligibility for public benefits. 2. Testamentary Third-Party Supplemental Needs Trust: This trust is established as part of a will and goes into effect after the death of the granter. It allows the disabled beneficiary to receive assets or funds from the deceased while maintaining eligibility for public benefits. 3. Pooled Third-Party Supplemental Needs Trust: In some cases, disabled individuals may not have a family member or loved one who can create or oversee a trust on their behalf. In such situations, a pooled trust operated by a nonprofit organization can be a viable option. These trusts combine funds from multiple beneficiaries and are managed and administered by the organization, ensuring the beneficiary's needs are met while complying with government assistance program requirements. By utilizing a Broward Florida Supplemental Needs Trust for Third Party — Disabled Beneficiary, individuals with disabilities can receive financial support from third-party sources while still accessing crucial public benefits. It offers peace of mind to both the disabled individual and their loved ones, knowing that their financial well-being is protected and their quality of life enhanced.
