Individual Supplemental Needs Trust
Let Life’s WORC remove the financial management responsibility
An Individual Supplemental Needs Trust (SNT) with Life’s WORC enables you to set aside money for an individual with disabilities without jeopardizing their government entitlements. Individual trusts can be either First Party (Self Settled) or Third Party (and can be drafted by your own attorney).
- Life’s WORC can serve as either the trustee or just the administrator of the SNT.
- With Life’s WORC as the trustee, you never have to worry about who will manage the trust after your demise.
- As the administrator, Life’s WORC is responsible for handling all trust-related paperwork, taking the burden off of the parent or family member serving as trustee.
- Trust assets supplement—but do not replace—government benefits programs.
- Funds can be used for virtually anything from unreimbursed medical expenses to living expenses, recreational activities and vacations.
- When the beneficiary dies, remaining funds can be left to loved ones. First Party Trust funds must first be paid toward state reimbursement fees; remaining Third Party Trust funds can be immediately disbursed to the named beneficiaries.
- The trust is professionally managed in partnership with Key Private Bank, which has extensive experience in the areas of individual and pooled trusts.
Want to find the Life’s WORC Individual Supplemental Needs Trust that’s right for you?Contact us today