Edward was awarded a settlement due to a sister’s accidental death. Because Edward was receiving Supplemental Security Income (SSI), his sister Kathryn did not want to the settlement to jeopardize his benefits. Kathryn contacted an attorney who advised them to establish a special needs trust for Edward.
Why did Edward establish a First-Party Special Needs Trust and how does it benefit him?
I did not want him to loose his benefits due to the income from the settlement. Due to Edward’s disability, health issues, and being over 65 years old, a pooled first-party special needs trust would benefit him the most. The funds from the settlement were deposited into the special needs trust and did not affect his benefits.
What has your experience been working with the Special Needs Trust Foundation?
I did have concerns over a special need trust. The Special Needs Trust Foundation explained their procedures very clearly many times and has been quite helpful. I have no worries.
What is your recommendation to families or individuals?
Yes, I do highly recommend the Special Needs Trust Foundation. It does work very well for both the caregiver and the person with disabilities.