Pooled Trusts

Two Different Types of Special Needs Trusts

There are two types of Special Needs Trusts (SNTs), commonly designated as first-party and third-party SNTs. It is important to determine which type of SNT you have or need. This depends upon whose property is funding the SNT. If the property funding the SNT originates with the SNT beneficiary, then it is a first-party SNT. However, if the property funding the SNT always belonged to someone other than the SNT beneficiary, then it must be drafted as a third-party SNT.

2024-05-07T13:46:30-04:00Tags: |

When Should You Consider a Pooled Trust?

By Janet Lowder, CELA, and Elena Lidrbauch, CELA Directly receiving a personal injury settlement, inheritance or other sizable sum of money can derail the finances of someone with disabilities. That’s because having more than $2,000 in resources makes them ineligible for means-tested government programs such as Medicaid and SSI (Supplemental Security Income), which may be [...]


New Savings Accounts May Fund Care for Individuals with Disabilities

By Morris Klein, CELA In December, amidst much euphoria, Congress passed and President Obama signed into law the ABLE Act of 2014 (Achieving a Better Life Experience). ABLE empowers states to create programs enabling individuals with certain disabilities to establish tax-free savings accounts modeled after the popular 529 college savings plans that, if used for [...]


Considerations when Initiating or Settling a Personal Injury Action

This issue of The Voice is written by Ken W. Shulman, Esq. who is a partner in the Boston, Massachusetts, office of Day Pitney LLP. Ken focuses his practice on estate planning and related issues for families who have children with disabilities and on elder law. He has served as a board member for several human service agencies including the Greater Boston ARC and presently serves as a board member for the Asperger's Association of New England. He also serves on the Combined Jewish Philanthropies Committee on Disabilities and previously served on the Board of Directors of the Massachusetts Chapter of the National Academy of Elder Law Attorneys. He is a co-author of Managing a Special Needs Trust, People with Disabilities Press (2012). Ken often serves as a trustee of special needs trusts at his clients' request.


Your Special Needs Trust Explained

The Voice is the e-mail newsletter of The Special Needs Alliance. This installment was written by Special Needs Alliance member, Amy C. O`Hara, CELA. Amy is an attorney with Littman Krooks LLP with offices in New York City, White Plains, NY and Fishkill, NY. Most of her work involves helping people with special needs planning (trusts, guardianships and government entitlements), estate planning and administration (wills and trusts), elder law issues (Medicaid and Medicare, Veterans' Benefits, guardianships).


Non-Profit Organizations as Trustees of Special Needs Trusts

You are reading The Voice, a newsletter published by The Special Needs Alliance. Our purpose is to provide information--and answers--about special needs planning for family members and professionals. We hope this newsletter helps you. We would love to hear your questions, suggestions and comments; please feel free to e-mail us. We also encourage you to forward our newsletter to others who might benefit from the information here, or who might have similar questions.

2024-05-21T00:05:13-04:00Tags: |