Special Needs Trust

If you have a child or a loved one with special needs, you want to make sure they have everything they need to live their lives as happily and comfortably as possible.

We can assist you in establishing a special needs trust that makes sure your loved one gets all the assistance they need from the assets you set aside for them as well as public benefits they are entitled to receive. In some cases, a person with a disability can be ruled ineligible for Medicaid, Supplemental Security Income (SSI) and other benefits if the government believes they have too much money in their accounts to receive public assistance.

Managing Your Assets

An attorney will set up the trust, with 1st Source appointed as Trustee. We will carefully and judiciously manage the assets placed within the trust. This protects the assets set aside for your loved one while also maintaining their eligibility for public benefits. It allows the funds you’ve provided to be used as needed, to pay for care that goes beyond what the government provides. Your loved one gets the most they can possibly get from public assistance and the money you’ve provided.

An individual special needs trust can provide payment for the following:

Personal care attendants
Out-of-pocket costs for medical or dental care
Home modifications or special furniture
Rehabilitation
Education
Transportation
Recreation and vacations