Special Needs Trusts

At Weaver, Bennett & Bland, we can help you with special needs planning and creating Special Needs Trusts in North Carolina. Contact us today at (704) 844-1400 to meet with one of our experienced Elder Law and Special Needs Planning attorneys.

How can I protect my assets and stay eligible for public benefits?

Special needs planning involves the creation of a Special Needs Trust (or Supplemental Needs Trust), which holds assets of the individual with special needs over the allowable resource limit, thereby allowing him to continue to receive public benefits such as Supplemental Security Income, Medicaid, and waiver programs.  A sudden increase in an individual’s assets can also endanger his ability for those benefit programs. There are three types of Special Needs Trusts: a Third-Party Funded Special Needs Trust (TPF-SNT); a Self-Funded Special Needs Trust (SF-SNT); and a Pooled Special Needs Trust.

Who administers a Special Needs Trust?

Special Needs Trusts, if properly drafted and administered, don’t jeopardize an individual’s receipt of resource-dependent public benefits because an independent Trustee manages and administers the funds, and the trust beneficiary cannot control the assets.  Therefore, the trust is a separate entity apart from the individual with special needs and considered an excludable resource for eligibility purposes.