Special Needs Trusts (SNTs) can be truly invaluable for disabled structured settlement recipients that are now, or will be, dependent on public/governmental programs including Medicaid and Supplemental Security Income (SSI) to help meet their medical and basic living needs over time.

The experienced settlement consultants at Quest Settlements have worked closely with attorneys and their disabled clients to set up special needs trusts in California for Los Angeles County and San Diego County. As personal injury structured settlements offer guaranteed tax-free payments, they are perfect for use in Special Needs Trusts.

What are Special Needs Trusts and When are they Used?

When it comes to financial settlements for disabled claimants, one of the major concerns is often whether the awarded funds will disqualify the person receiving them from accessing needs-based public assistance. In fact, having only a few thousand dollars in particular assets can quickly render a disabled individual ineligible for critical government programs.

Special Needs Trusts were devised to address this concern, as Federal law enables claimants to collect personal injury settlement funds without those funds being counted against them in deciding eligibility for public benefits.

Specifically, either a part or the entirety of the personal injury settlement can go into the trust, with those funds being used primarily to complement the government assistance and pay for needs not met with those particular benefits.

Additionally, based on the particular laws of the disabled claimant’s state, the funds within the Special Needs Trust can also be used toward needs including transportation, nutritional requirements, medical costs paid out-of-pocket and rehabilitation. Claimants may also be able to use the funds for “quality of life” expenses such as a residence or even a vacation for enjoyment.

The structured settlement consultants at our top structured settlement company are extremely well-versed in both Federal and state regulations regarding Special Needs Trusts, and will inform you of what is, and is not, allowed in spending the trust funds.

There are multiple kinds of Special Needs Trusts, each of which has specific requirements and stipulations. One type of SNT is for disabled claimants that are under the age of 65 at the time at which the trust is established. The trust is usually comprised of settlement funds that are used to assist the disabled individual as discussed above. If the Special Needs Trust funds have not been completely exhausted by the time the claimant passes away, any remaining money goes toward covering Medicaid payments and then passes to those designated as the claimant’s heirs.

A second kind of Special Needs Trust, known as a “pooled trust”, is for disabled individuals that are over the age of 65. Despite the fact that these over-65 claimants cannot take advantage of a standard Special Needs Trust, they’re effectively able to receive the same benefits with the pooled trust.

A third type of SNT is known as a Third Party Special Needs Trust. With this type of trust, a third party (usually a direct relative) puts funds aside to help meet the financial needs of a disabled loved one. This trust helps provide peace of mind that the disabled individual will have the money he or she needs over time. The person that creates the trust is able to decide what happens to any funds left over when the original beneficiary passes away.

Choose Quest Settlements for Your Special Needs Trust Fund

Quest Settlements Helping Attorneys and Claimants with SNT Fund

At Quest Settlements, we recognize the importance of Special Needs Trusts services for disabled personal injury claimants. Over the years, we’ve worked closely with many such claimants and their attorneys throughout Los Angeles County and San Diego County to get these trusts set up quickly and properly. Our settlement consultants are always available to address your questions and concerns regarding Special Needs Trusts in California and have the experience needed to provide effective guidance.

Don’t delay in getting the Special Needs Trust assistance you or your client needs. To set up an appointment with Quest Settlements, please give us a call now at 805-823-6100 (Los Angeles County) or 619-391-2578 (San Diego County). If you’d like, you can also fill out the contact form on this page, and a representative will respond as soon as possible.

For Special Needs Trust Assistance, Contact Quest Settlements Today at (877) 832-3005

For Special Needs Trust Assistance, Contact Quest Settlements Today at (877) 832-3005